1 Escudo - Carlos III bust of Carlos III, regular type

Carlos III's monetary reforms of 1772 standardized the bust coinage across Spanish colonial mints, replacing the older macuquina (cob) format that had dominated American production for two centuries. Santiago was among the slower mints to comply fully, and transitional inconsistencies in early strikes from this series are well documented. The Chilean mint operated under chronic supply pressures throughout this period — gold sourced primarily from Andean placer deposits rather than organized mining — which contributed to irregular planchet quality across the run.

The 1772–1788 window closes with Carlos III's death in December of that year.