1 Real - Felipe V

Felipe V inherited the Spanish throne in 1700 through the will of the childless Carlos II, triggering the War of the Spanish Succession — a conflict that reshaped European power and left the colonial mints of the Americas operating under genuine uncertainty about legitimate authority. Lima continued striking in his name throughout, though the early cob-style production of this period was notoriously irregular, with planchet quality varying dramatically depending on the assayer and the silver supply coming down from Potosí.

The Lima mint's assayer initial during much of this run was H, for Juan de Dios de Herrera. Pieces from this reign predate the shift to milled coinage ordered in 1728.