Watch List notes:

Potosi, Bolivia, cob 8 reales, Philip III, assayer T, lions and castles transposed in shield and cross. S-P21; KM-10. 24.91 grams. Crude flan with much unevenness, good full shield and cross despite weak areas, bold large O in denomination, toned Fine+ with part of edge crude (as made) but no evidence of trimming to account for the low weight.

Estimate: $150 - 225