1 Real - Carlos IV

Carlos IV ascended the Spanish throne in December 1788 following the death of his father Carlos III, which is why this issue spans two calendar years — the Guatemala mint was working through the transition in royal titulature on the dies. The assayer initial present on a given piece can narrow the production window considerably, as personnel changes at the Casa de Moneda during this period were not uncommon.

Guatemala City's mint, relocated there after the 1773 earthquake destroyed the facility at Santiago de los Caballeros, was still relatively recently established on its new site when these were struck.