CARLOS II - 1665 - 1700

Obverse: Legend around head of Carlos II facing left
Reverse: Long cross with circle and pellets in angles, date 1675

At the age of four, Carlos II, known as Carlos the Mad, the last child of Philip IV and Maria Anna of Austria, inherited the Spanish throne. Carlos’s reign opened with ten-year regency under the Queen Mother. At this time the government was preoccupied with combating the ambitions of the French king Louis XIV in the Low Countries and with the intrigues at court involving the queen and her favorites.

During this period and the following years until Carlos died in 1700, Spain's state of affairs continued to worsen. Despite heavy taxation and the frequent arrival of plate (treasure) fleets the treasury was bankrupt manufacturing had all but ceased, trade was in the hands of foreigners and corruption ruled public offices at home and abroad.

When it became apparent Carlos would not father any children he made known in his will that he favored Philip, the grandson of Louis XIV of France, thereby ending the line of Spanish Hapsburgs.

Upon his death, the war for the Spanish succession broke out and led to the dismembering of Spain's European possessions.

Silver coins were struck for Carlos II in denominations of 8, 4, 2, 1, and 1/2 Reales. Gold coins were issued in units of 8,4,2 and 1 Escudos. Deterioration of government under Carlos is reflected in his coinage. Some of the crudest and most poorly made Spanish coinage was issued particularly during the later years of his reign from both Old World and New World mints. The most important coinage development during the reign of Carlos was the granting of permission to coin gold at the Mexico City mint in 1675.