1/4 Real - Carlos IV bust of Carlos IV

Chile's quarter real of 1792 was struck at the Santiago mint under the authority of the newly crowned Carlos IV, whose bust replaced that of his father Carlos III on the coinage following the latter's death in December 1788. The transition was not immediate — updating dies across the colonial mints took years, and Santiago was among the slower houses to conform. This piece represents one of the earliest Santiago issues bearing the new effigy.

At under a gram of silver, the quarter real served the lowest tier of daily commerce in colonial Chile, changing hands for bread and small foodstuffs where larger silver was impractical.