2 Reales - Felipe V Madrid

Felipe V's hold on the Spanish throne in 1711 was anything but secure. The War of the Spanish Succession was grinding through its eleventh year, with the Archduke Charles of Austria having actually seized Madrid twice — forcing the Bourbon court into temporary exile. Coinage from the Madrid mint in this period is genuinely scarce; the city changed hands under military pressure, and normal mint operations were repeatedly disrupted between 1706 and 1712.

Cal#1241 places this among the cob-era transitional issues preceding the milled coinage reforms Felipe V would mandate in 1728.