2 Reales 'Maria' - Carlos II

Carlos II — "El Hechizado," the Bewitched — ruled Spain in a state of near-constant physical and mental incapacity, and the monetary administration of his reign reflected it. The so-called 'Maria' coinage was introduced in 1686 as part of a broader monetary reform attempting to stabilize a silver currency that had been systematically debased and counterfeited throughout the mid-seventeenth century. The reform reasserted the old fineness standard and introduced new milled coinage to replace the notoriously fraud-prone cob issues.

The 'Maria' designation comes from the monogram of Queen Mariana of Neuburg, Carlos's second wife, whose cipher appeared on the coinage during this period.