1 Real - Carlos II

Carlos II, the last Habsburg king of Spain, ruled in near-constant physical and mental incapacitation — regents and court factions effectively controlled colonial monetary policy for most of his reign. Lima's cob coinage of this period has a complicated assayer history; the transition between assayer marks on macuquina strikes from this mint is a primary tool for dating otherwise undifferentiated pieces within the 1684–1700 window.

These irregular cob-struck reales circulated extensively across the Pacific trade routes, moving through Manila and into Chinese markets where silver was valued by weight rather than by issuing authority.