2 Reales - Philip V

Philip V reclaimed the Spanish throne in 1724 after briefly abdicating in favor of his son Louis I, whose death from smallpox after just seven months forced the return. The Potosí mint was producing cob coinage — macuquinas — through much of this period, irregular hand-hammered pieces notorious for inconsistent weight and rampant counterfeiting that plagued colonial commerce. KM#29a falls within the transition years when Madrid was pushing hard for milled coinage across the New World mints, a reform that Potosí would not fully implement until the 1760s.