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4 Escudos - Carlos III

Issuer Royal Mint of Spain (Real Casa de la Moneda)
Year 1786-1788
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Technique Milled
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Reverse description The quartered royal arms of Spain, comprising castles and lions with the Bourbon fleur-de-lis inescutcheon and the pomegranate of Granada at base, displayed on a heraldic shield surmounted by an elaborate royal crown. The shield is encircled by the collar of the Order of the Golden Fleece, with the fleece pendant at the base. The denomination numeral '4' appears to the left of the shield and the assayer's initial 'S' to the right. The surrounding Latin legend reads IN·UTROQ·FELIX·AUSPICE·DEO, meaning 'Happy in both under the auspices of God,' with the mint mark and assayer initials at the base.
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Reverse lettering IN·UTROQ·FELIX·AUSPICE·DEO 4 S ·M·
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Additional information

Carlos III's gold coinage of the 1780s was produced across multiple colonial and peninsular mints simultaneously — Madrid, Seville, Mexico City, Lima, Santiago, and others — each adding its own assayer initials and mint mark, which makes attribution of individual pieces genuinely consequential rather than academic. The Cal#311 reference places this within Calicó's tighter attribution framework, distinguishing it from earlier Carlos III types struck under the pre-1772 bust reform.

The 1788 date carries particular weight: Carlos III died in December of that year, making late-dated examples from his reign terminal issues struck within months of his death.

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