The reign of Charles IV (1788-1808) was strongly influenced by international instability: the French Revolution and Napoleonic expansion marked the future of Spain, which went from war to an uneasy alliance with France. Internally, Charles IV was characterized by delegating authority to his favorite, Manuel Godoy, which further weakened royal authority and generated strong discontent among the nobility and the people. The economic crisis and institutional weakening culminated in his forced abdication following the Mutiny of Aranjuez, an event that paved the way for the Napoleonic invasion and the Spanish Peninsular War.
In the numismatic field, the reign of Charles IV was one of the longest and most prolific both in the Iberian Peninsula and in the colonial world, with notable coin issuance in gold, silver, and copper. Gold coins were minted in denominations such as ½, 1, 2, 4, and 8 escudos, with a realistic bust of the monarch on the obverse and the coat of arms on the reverse. These coins were minted in both Spanish mints (Madrid, Seville) and American mints (Mexico City, Lima, Potosí, Santiago, Popayán, among others). These coins, especially the 8 escudos, enjoyed wide circulation and international influence, reflecting the vast reach of the empire and the Spanish economy of the time. Among collectors, many of these coins are highly valued for their rarity, origin from remote mints, and exceptional state of preservation.
