Watch List notes:

SCOTLAND, Countermarked coinage. Bute, Rothesay. Rothsay Cotton Works. AR 4 Shilling 6 Pence (40mm, 29.22 g). Dated 1820. ROTHSAY/ COTTON WORKS · around 4/6 over 1820, all within beaded border in circular cartouche, countermarked on a Mexican cast AR 8 Reales of Chihuahua dated 1812 CA RP. For countermark: Manville p. 181, 92 (unlisted date for host). For host: KM 123 (Mexico). Countermark VF. Host Crude VF. Rare and unusual undertype.