2 Escudos - Fernando VII

Fernando VII never set foot in the Americas, yet Lima continued striking gold in his name throughout his captivity under Napoleon — these issues effectively declared loyalty to a king who had no practical authority over anything. The Lima mint's output during 1809–1811 represents a peculiar liminal moment: the colonial administration was functioning on inertia, maintaining the fiction of royal governance while the Peninsula was occupied and the independence movements it would fail to suppress were already fermenting in the southern cone.

KM#111 is a short-lived type. By 1812 the coinage design had shifted, making the three-year window for this issue narrow enough that examples see genuine collector competition.