4 Reales - Felipe V

Felipe V inherited the Spanish throne in 1700 as the first Bourbon king, a succession that immediately triggered the War of the Spanish Succession — fourteen years of conflict that strained colonial minting operations across the Americas. Mexico City's output during this period fed military financing on multiple fronts, with silver shipments to Europe disrupted repeatedly by English and Dutch naval activity.

These cob-style macuquinas were struck by hammer on irregularly cut planchets, a medieval technique already considered obsolete when these were minted. The assayer initial on each piece — most commonly J for Juan Rodríguez — is the primary tool for dating within the 1701–1728 window.