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4 Reales - Felipe V

Issuer Casa de Moneda de México
Year 1716-1723
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Value 4 Reales
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Obverse script Latin
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Reverse description Central design features a crowned cross of Jerusalem with a quatrefoil outline, the four quadrants alternately bearing the castles of Castile and the lions of León, representing the arms of Spain. The denomination mark appears in the field to one side of the cross. A continuous Latin legend encircles the design between inner and outer beaded borders, with the mint mark and assayer initial also present in the field.
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Felipe V inherited the Spanish throne through the War of Spanish Succession, a conflict that dragged on until 1714 and left royal finances severely strained. The Mexico City mint was under enormous pressure to maintain silver output throughout this period, feeding both Iberian war debts and transatlantic trade networks that ran on macuquina coinage by weight rather than face value. These cob-struck pieces were already an anachronism by the 1710s — the Madrid reform debates that would eventually mandate milled coinage were well underway, making this type transitional in a very concrete administrative sense.

The KM#R40 designation flags this as a cob issue, hand-cut from silver bar stock and hammer-struck — a method the Mexico City mint had used since 1535.

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