Charles II of Spain (Madrid, 1661–1700), known as "the Bewitched," was the last king of the House of Austria or Habsburg in Spain. He reigned from 1665 to 1700, inheriting the throne after the death of his father, Philip IV, when he was only four years old.
Charles II was born with serious health problems, probably stemming from his Habsburg consanguinity. He suffered from physical weakness, infertility, and intellectual limitations, which affected his life and reign. His lack of offspring made the issue of succession a central theme in European politics, as his death would mean the end of the dynasty and the beginning of an international conflict over the Spanish throne. A conflict that could be described as the true First World War.
He was also a victim of the Black Legend, French propaganda, and the machinations of Louis XIV, grandfather of Philip V (the first Bourbon king in Spain). Perhaps one day justice will be done to Charles II, a king far more worthy and dedicated to Spain than we have been told.
Numismatics in the time of Charles II (1665-1700)
The reign of Charles II, the last monarch of the House of Austria in Spain, was marked by a profound economic and political crisis. However, in the numismatic sphere, it was a period of significant reforms and a wide variety of issues, both on the Iberian Peninsula and in the American and European territories under Spanish rule.
During the reign of Charles II, coins were minted in gold, silver and copper:
Gold: Shield, 2 shields, 4 shields, 8 shields and exceptional pieces such as the centén (100 shields).
Silver: 1/2 real, 1 real, 2 reales, 4 reales, 8 reales (the famous “real de a ocho” or “Spanish dollar”), as well as divisors and local pieces such as the croat, dieciocheno, patard, filippo, etc.
Copper (fleece): Ochavo (2 maravedis), cuarto (4 maravedis), 8 maravedis, 12 maravedis, among others.
Monetary reforms and the “Marías”
At the end of the reign, a major monetary reform was implemented (the Pragmatic of 1686), which sought to stabilize the system after decades of inflation and devaluation of the billón. Highlights include:
Silver Doubling: Old coins ("old silver") remained in circulation, while new ones ("new silver") were introduced, with different real and face values. The old real of eight became worth 10 reales, while the new one remained worth 8 reales.
“María” coins : The new silver coins, especially the 8 reales minted in Segovia, Seville, and Madrid, featured the Virgin Mary's monogram and the legend “PROTECTIONE VIRTVTE” on the reverse, reflecting the Crown's support for the dogma of the Immaculate Conception. These coins are known as “Marías” and are highly prized for their religious iconography and rarity.
The coins of Charles II were minted in numerous mints:
Peninsula: Madrid, Seville, Segovia (Real Ingenio), La Coruña, Burgos, Granada, Valladolid, Zaragoza, Barcelona, Valencia, Mallorca, among others.
America: Mexico, Lima, Potosí, Santa Fe de Nuevo Reino, Cartagena, Guatemala, Santiago de Chile, among others.
Europe: Naples, Milan, Sicily, Flanders (Antwerp, Brussels), Sardinia, Sardinia, Sardinia, etc.
Characteristics of coins
Design: The obverse usually features the coat of arms of the Spanish monarchy and the legend "CAROLVS II DG HISPANIARUM REX." The reverse features the value, the mint mark, and, in the "Marías," the monogram of the Virgin.
Fineness and weight: Gold maintained a fineness of 22 carats (916.6 thousandths). Silver was reduced in fineness and weight, especially in silver coins, to adjust its intrinsic and extrinsic value.
Errors and variants: Die errors, assayer variants, and minor differences in the artwork are common, increasing the collector's interest.
The numismatics of Charles II reflects the complex political and economic situation in Spain at the end of the 17th century and constitutes one of the most interesting and varied chapters in Spanish monetary history.
