CARLOS III

Lima onzas of the first bust (1761 and 1762). The first Lima onzas (1761 and 1762) were struck with a very distinctive and specific bust, characterised by a prominent nose and a Roman-style shoulder armour. However, from 1763 to 1768, the official portrait—known as the Cara de Rata ("Rat Face," Type I)—was adopted, a work by Tomás Francisco Prieto, the chief engraver of the Madrid Mint. In 1768, and continuing through 1772, this bust was modified in what is regarded as a second model (Type II), depicting the king with a more elongated nose and a more pronounced chin, features considered "non-official." It appears that this variation originated from an engraving error at the Lima Mint during the transfer of the design to the die, possibly combined with the local engravers' desire to incorporate distinctive traits into the coins they produced. In any case, the result was the use of a specific bust variant that is now rarer than the Type I portrait and was briefly adopted at the Santiago Mint (1771–1772), which was heavily dependent on the Lima Mint. The major monetary reform of 1772 put an end to these peculiarities, and from that year forward, a new portrait was introduced, remaining in use until the end of the reign.