Watch List notes:

Potosi, Bolivia, cob 8 reales, Philip III, assayer M (pre-dating), quadrants of cross transposed. S-P18; KM-10; CT-123. 27.03 grams. Despite flat areas, this coin actually has a lot going for it, with clear assayer and king's ordinal III outside full but doubled shield, the doubled cross with clear REX at 11 o'clock (hence struck before the incorporation of a date in the legend) and lions and castles in improper quadrants, Fine+ overall, with traces of toning around details.

Estimate: $150 - 225