8 Reales - Carlos III Colonial Milled Coinage

Carlos III's 1772 monetary reform — the Nuevas Ordenanzas de Intendentes — ultimately killed this exact type. The Lima mint had been producing milled coinage since 1752, but persistent complaints about inconsistent fineness and irregular planchet preparation from colonial mints prompted Madrid to mandate a standardized bust coinage across all American mints. Lima's transitional issues of 1769–1772 occupy the final window before that redesign took effect.

The assayer initials struck during this period are the primary tool for dating within the type. Lima's JM pairing — Juan de Dios de Herrera and Miguel de Rueda — marks the majority of surviving examples from these years.