After the outbreak of the Peninsular War, the authorities loyal to Ferdinand VII formed a government to act in his name, and one of its powers was the right to strike coinage. In the Peninsula, doubloons were struck at Cadiz, where the loyalist government had taken refuge, dated only 1811 and made with the machinery of the Seville mint, which had been transferred to that city.
The government appointed Felix Sagau as Chief Engraver of the kingdom, entrusting him with the creation of a bust of the captive king to replace the invented portraits then being used at the American mints, and thereby to convey an idea of unity throughout the Hispanic territories. The bust wears a laurel wreath, armour, mantle and the Golden Fleece around the neck, and is unique to this mint. The reverse is identical to that created under Charles III.
This is a very scarce piece, since it was struck only in 1811 and bears an exclusive bust, with assayers CI (Carlos Tiburcio de Rojas and Ildefonso de Urquiza).