4 Reales - Felipe V

Felipe V briefly abdicated in favor of his son Luis I in 1724, then reclaimed the throne seven months later when Luis died of smallpox. The coins struck under his second reign — including this issue — reflect a minting system still operating under the older macuquina (cob) tradition at Mexico City, before the full transition to milled coinage that would come under Fernando VI. The 1729–1733 window corresponds to significant administrative pressure from Madrid to modernize colonial mints, pressure that ultimately produced the decree of 1728 mandating new milling machinery.

KM#40a distinguishes this type from earlier Felipe V issues by assayer initial changes at the Mexico City mint during this specific window.