2000 Pesetas Hammer minting

The Real Casa de la Moneda in Madrid has operated continuously since the 15th century, making it one of the oldest functioning mints in Europe. This 2001 issue belongs to a series produced specifically to document historical minting techniques — the hammer coining method depicted here predates screw press technology and remained the dominant production method in Spanish mints well into the 17th century. Spain's colonial mints in the Americas used hammer striking to produce the famous macuquinas, or cob coinage, whose irregular flans were a direct consequence of prioritizing silver weight over precision.