So does the obverse. Maybe a counterfeit? I don't see a Carlos 3rd or fourth with a nose like that. The reverse is more like the ones made in the Americas (Mexico, Guatemala, Peru, etc.) but also different on the wording around the edge.
Don and Cuda -It is my opinion that this is a fantasy piece. While in early cob coinage, it is possible that elements were transposed (partly due to the hand cut dies and uneducated die workers in the colonies - even one instance where it was theorized that the one die worker was dyslexic due to die errors [I have an example of this one particular instance]). It is unknown of transposed elements in milled coinage. There just aren't mistakes made in family crests. A family crest is a source of pride and haphazardly misrepresenting the crest is an insult. The House of Castile and Leon Coat of Arms is backwards and upside down.