1 Real - Felipe V Seville, hammered

Felipe V inherited the Spanish throne in 1700 as a teenager under the terms of Charles II's will, immediately triggering the War of the Spanish Succession as Austria, England, and the Dutch Republic refused to accept Bourbon dominance over Spain and its empire. These early hammered reales from the Seville mint — marked with the assayer's initial rather than a formal mint mark — were struck under the same medieval técnica that had supplied Spanish colonial trade for two centuries, even as the new Bourbon administration was already eyeing modernization of the coinage system.

Seville's mint at this date operated under considerable disruption, with assayer accountability in flux during the transition between Habsburg and Bourbon administrations. Cal#1696 covers a span of only four years before Felipe's hammered coinage was progressively replaced by milled production.