1 Real - Ferdinandus V and Elisabet I Segovia

This issue belongs to the monetary reform pushed through by Ferdinand and Isabella beginning in 1475, consolidating a chaotic Castilian coinage that had deteriorated badly under Henry IV — whose currency debasements were so severe that merchants routinely rejected royal coin outright. The Ordinance of Medina del Campo in 1497 eventually ended this type's production by establishing stricter purity standards and new denominations, making pieces struck in the final years of this range transitional in character.

The Segovia mint drew its water power from the Eresma River, giving it mechanical advantages that other Castilian mints lacked. Dies from Segovia are generally among the more consistently produced of the series.