1 Escudo - Carlos IV bust of Carlos III, CAROL IIII

Historical Context: This 1 Escudo coin, issued by Chile in 1791, offers a unique numismatic insight into the reign of Carlos IV (1788-1808). Despite the clear "CAROL IIII" inscription, the obverse prominently features a bust of his predecessor, Carlos III. This practice was common in distant colonial mints like Santiago, where new dies were often delayed. The coin thus embodies the continuity of Spanish Bourbon rule in its American territories and the critical role of gold coinage in the colonial economy, demonstrating royal authority.

Artistry: The design of this 1 Escudo adheres to the Neoclassical style prevalent during the late Bourbon era. While the specific engraver for the Santiago mint die remains unrecorded, the primary design originated from master dies or models sent from Madrid. The obverse features the distinctive laureate bust of Carlos III, reflecting the slow transmission of updated iconography to the colonies. The reverse typically showcases the crowned Spanish shield, flanked by the Pillars of Hercules, symbolizing Spain's global reach, rendered with characteristic precision.

Technical/Grading: Struck in .901 fine gold, this 19mm, 3.3834-gram Escudo generally exhibits strong strike qualities due to the metal's malleability. For grading, key high-points include Carlos III's laureate wreath and hair on the obverse, and the crown, lion's manes, and castle turrets on the reverse. Given its colonial origin and older bust design, minor inconsistencies in strike or planchet quality are possible. Collectors should seek full definition in legends and intricate details, as these areas often show early wear or strike weakness.