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2 Maravedis - Philip IV Segovia; milled
| Issuer | Casa de la Moneda de Segovia |
|---|---|
| Year | 1622 |
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| Composition | Log in to see details |
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| Diameter | Log in to see details |
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| Orientation | Coin alignment ↑↓ |
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| Obverse description | Log in to see details |
|---|---|
| Obverse script | Latin |
| Obverse lettering | + PHILIPPVS · IIII · D · G II |
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| Additional information |
Philip IV had inherited a monetary disaster. The copper vellón coinage issued under his father had been so aggressively inflated — with blanks struck underweight and then countermarked upward in face value — that confidence in small denomination copper had essentially collapsed by the early 1620s. The milled 2 Maravedis of 1622 was part of a short-lived attempt to restore credibility through machine-struck precision at Segovia, whose water-powered mill had been operating since the 1580s under technology imported from Germany.
The reform didn't hold. By 1626 the crown was debasing again.