Real - Ferdinandus II and Elisabet I

This issue belongs to the coinage reform undertaken by Ferdinand and Isabella in 1497 under the Pragmática de Medina del Campo, though pieces like this one predate that ordinance and reflect the transitional monetary arrangements of the early joint reign. The two crowns — Castile and Aragon — maintained separate coinage systems well into the 1490s, and Aragonese reales circulated alongside Castilian issues without a unified standard forcing equivalence.

Cal#416 places this among the earlier Aragonese emissions struck before the reform rationalized fineness across the peninsula.