2 Reales - Carlos I

These cob-style pieces — macuquinas — were struck at the Mexico City mint, the first operating mint in the Americas, which Carlos I authorized in 1535. Production was crude by design: silver was cast into bars, cut to approximate weight, and hammer-struck with no concern for centering or shape. The crown assayed the silver content rigorously, but the form was irrelevant.

Counterfeiting and short-weight fraud were persistent problems in this period. A royal decree of 1550 mandated that assayers mark each piece with their personal initial, making individual accountability traceable — the assayer's mark on surviving examples from this window is often the only reliable dating tool available.