This appears to be a Peruvian silver bowl. Quite right about the Pillars of Hercules and the representation of Spain. The inner shield is the coat of arms of the city of Lima, Peru. The K is for Karolus (Carlos or Charles) and the J is for Johanna (sometimes the letter I or Y is used).The pomegranate at the bottom is for Granada, as found in the Spanish arms. Here is webpage with an example on a proclamation medal from 1789.
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