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2 Reales - Felipe V Madrid, hammered
| Issuer | Real Casa de la Moneda, Madrid |
|---|---|
| Year | 1704 |
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| Composition | Silver (.931) |
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| Obverse description | Central crowned quartered shield of the Spanish royal arms, displaying castles of Castile and lions of León in the principal quarters, with Granada in base, surmounted by a royal crown. The mint mark 'MD' (Madrid) and assayer initial appear in the field flanking the shield. A partial circular legend surrounds the device, reading PHILIPPVS V DEI GRAT MD BR II, struck on an irregularly shaped flan characteristic of macuquina (cob) coinage. |
|---|---|
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| Obverse lettering | PHILIPPVS · V · DEI · GRAT MD BR II |
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| Additional information |
Felipe V's claim to the Spanish throne — inherited from Carlos II in 1700 — triggered the War of the Spanish Succession almost immediately, and by 1704 the Bourbon king was fighting for his crown on multiple fronts. Madrid's mint continued hammering silver through the conflict, though output was erratic and quality control suffered visibly. Many dies from this period show pronounced doubling and misalignment from exhausted workmen under production pressure.
Gibraltar fell to Anglo-Dutch forces in August of that same year, a loss Felipe never psychologically accepted and spent decades attempting to reverse.