1699, Peru, Charles II. Spanish Colonial 4 Reales Cob Coin. Sea Salvaged?

Assayer: R
Mint Year: 1699
Mint Place: Lima (Peru)
Denomination: 4 Reales Cob
References: 1699-L/R, KM-21 (listed at $90 in VG / $150 in F). Rare!
Condition: Badly corroded possibly from from salt water, gold plated and tooled in reverse (where a mount was removed or a gold test failed), otherwise F+
Material: Silver (gold plated)
Diameter: 28.9mm
Weight: 10.54gm

Obverse: Value numeral (4), flanked by pillars of Hercules. Sea-waves legends and date in squares below.
Legend in fields: [L] 8 [R] / [P]LV / SVL / T[RA] / [R] / 99 [L]

Reverse: Cross of Jerusalem with lions and castles in quarters. Date ([16]99) below cross.

Charles II (Spanish: Carlos II) (6 November 1661 – 1 November 1700) was the last Habsburg ruler of Spain. His realm included Southern Netherlands and Spain's overseas empire, stretching from the Americas to the Spanish East Indies. Known as "the Bewitched" (Spanish: el Hechizado), he is noted for his extensive physical, intellectual, and emotional disabilities—along with his consequent ineffectual rule.

He died in 1700, childless and heirless, with all potential Habsburg successors having predeceased him. In his will, Charles named as his successor his 16-year old grand-nephew, Philip, Duke of Anjou, grandson of Charles' half-sister Maria Theresa of Spain, the first wife of Louis XIV (and thus grandson of the reigning French king Louis XIV). Because the other European powers viewed the prospective dynastic relationship between France and Spain as disturbing the balance of power in Europe, the War of the Spanish Succession ensued shortly after his death.