1 Escudo - Felipe V Colonial Cob Coinage

Felipe V inherited the Spanish throne through the War of Spanish Succession, and Lima's mint continued striking cob coinage — macuquinas — throughout his reign despite the crown's ongoing efforts to rationalize colonial minting. These irregularly shaped pieces were hand-hammered from cut blanks, making every example dimensionally unique. The Lima mint at this period operated under chronic oversight problems; a major fraud scandal in the 1690s had only recently been addressed, and quality control remained inconsistent through the early decades of the eighteenth century.

Survivors in any condition above heavily worn are genuinely scarce. Cobs of this denomination circulated aggressively in Pacific trade circuits.