Watch List notes:

MEXICO, Guerra de Independencia. Oaxaca. Insurgent. CU 8 Reales (37mm, 22.14 g, 1h). Struck under General José María Morelos. Dated 1814. Bow with notched arrow; [OAXACA above], SUD below / Cross; denomination flanking; Morelos monogram above, date below. BW 93.13; Grove 2268 (same dies as illustration); ME 15938; KM 241. Good VF, brown patina, usual adjustment marks.