CARLOS III

Following the accession of Charles III to the Spanish throne upon the death of his half-brother Ferdinand VI in 1759, a transition of power took place, complicated by the fact that the new monarch was already sovereign of Naples and absent from Spain. His mother, Queen Elisabeth Farnese, assumed the regency, and upon Charles III’s arrival on the peninsula, significant changes were introduced to the coinage. These included a new portrait for gold issues—depicting the king in armour and cloak, wearing the Order of the Golden Fleece at his neck and a short wig that distinguished him from his predecessors—designed by Tomás Francisco Prieto, the chief engraver of the Madrid Mint. Mint. Due to its distinctive features, this portrait would come to be known as the Cara Rata (“Rat Face”) type. In addition, the reverse design was radically modified: the shield was updated to include the arms of the territories inherited from his mother—Parma (of the Farnese line) and Tuscany (of the Medici)—with the creation of a large central escutcheon bearing the arms of Castile and León. This signalled that the Crown of Castile was the core of the Monarchy. At the same time, all references to the French Order of the Holy Spirit—so prominent during previous reigns—were removed. Lastly, a new religious motto was introduced: In Utroque Felix in Auspice Deo, indicating that the monarch was under God’s protection and reigned happily in both hemispheres. These changes began with coins minted in the Iberian Peninsula. While both Madrid and Seville struck large quantities of low-denomination gold coins, high-value pieces were extraordinarily rare. In fact, only a handful of onzas of this type are known: from Madrid in 1760 and from Seville in 1762—considered by some as proof coins. After that, no onzas were minted again in Madrid or Seville until 1772. This 1762 Seville onza, bearing the mintmark S and the assayers' initials JV (José de Villaviciosa and Vicente Diez de la Fuente) flanking the Golden Fleece, is one of the most exclusive pieces of Charles III’s reign.