Watch List notes:

Lima, Peru, cob 4 reales, Philip II, assayer X, very rare. S-L3; KM-11; CT-327. 12.53 grams. Round flan with full legends and inner details despite light surface corrosion all over, nice toning, minimal doubling, the all-important P-X very clear (first example in this denomination that we have offered at auction), also interesting as lacking the initial H of HISPANIARVM, as do most of the 7-10 known specimens.

Estimate: $1000 - 2000