2 Reales - Fernando VII

Popayán's 1822 output sits at an extraordinary juncture: Fernando VII was still nominally king of New Granada on this coin's face, yet by 1822 the royalist cause in the region had effectively collapsed. The Battle of Boyacá in 1819 had already decided independence, and Popayán itself had changed hands repeatedly between patriot and royalist forces throughout the wars. Coins bearing Fernando's name continued to be struck simply because the dies and the infrastructure existed — not because anyone in authority still answered to Madrid.

The dual KM reference reflects genuine cataloging uncertainty about this transitional emission.