CARLOS III

Santiago 8 escudos. It has already been discussed how the Santiago mint was established and the difficulties it had to overcome. With the accession of the new monarch, its treasurer was ennobled in 1760. As in other mints, the first gold coinage initially bore the portrait of the previous king, as seen in the 1761 issue. It was not until 1763 that the new royal portrait began to appear. The following years marked a period of development for the mint, but government policy shifted, and in August 1770, its incorporation into the Crown was ordered. Formal possession took place in 1772, with Mateo de Toro y Zambrano appointed superintendent. The mint was relocated to the Colegio Máximo de San Miguel, a property that had belonged to the expelled Jesuits. In the early 1780s, plans were approved for a new building designed by the Italian architect Joaquín Toesca y Ricci. Completed in 1805, the structure became a landmark of the city, remaining so to this day. These changes, along with the 1772 monetary reform, led to the issuance of onzas featuring the updated royal portrait in that same year. A notable selection of pieces from the years 1774 to 1788 is presented here.