Watch List notes:

Lima, Peru, 1/2 real, Philip II, assayer R (Rincon), legends split as HISP / IARVM. S-L1; KM-3; CT-702. 1.80 grams. Broad flan with full legends and inner details, no doubling, deeply toned but slightly porous from unspecified salvage (net VF).

Estimate: $200 - 300