2 Reales - Carlos III Proclamation

Proclamation pieces like this were not circulating coinage — they were struck specifically to be thrown into crowds during the public acclamation ceremony marking Carlos III's recognition as king in Guatemala City. The practice, known as the volateo, meant these coins were caught, scrambled for, and pocketed as keepsakes rather than spent, which largely explains why survivors tend to appear in better condition than their age suggests.

Carlos III had already been ruling Naples and Sicily for over two decades before inheriting the Spanish throne in 1759, making the Guatemalan proclamation — held the following year — a belated formality across the Atlantic.