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1 Real - Philip III

Issuer Casa de la Moneda de Potosí
Year 1598-1621
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Value 1 Real
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Obverse description Central field displays the quartered royal arms of Castile and León, incorporating castles and lions in the respective quarters, surmounted by a crown, all within a shield. The mintmark 'P' for Potosí and the assayer's initial appear flanking the shield, with 'P' and 'I' visible in the field. A partial circular Latin legend runs around the periphery, though heavily clipped and partially off-flan as is characteristic of cob coinage. The die-struck design is typical of the macuquina (cob) style, with irregular flan edges and variable strike quality.
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Edge Plain (irregular)
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Philip III inherited the Potosí mint at the height of Cerro Rico's output, when the mountain was producing silver on a scale that distorted European price levels for generations. The 1 real cob — a macuquina struck by hammering between crude dies on an irregularly cut planchet — was never meant to be beautiful. It was meant to move.

Assayer marks on Potosí pieces from this reign cycle through several known initials, and attribution to specific years within the 1598–1621 bracket depends almost entirely on which assayer's mark survives legibly on the flan.

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