Watch List notes:

Mexico City, Mexico, bust 1 real, Charles III, 1786FM, encapsulated NGC Shipwreck Effect. KM-78.2a; CT-1569. Worn and very lightly corroded but with all details clear, brightly cleaned, very scarce provenance (stated inside slab). Recovered from: S.S. New York, sunk in 1846 off Louisiana

Estimate: $125 - 200