Watch List notes:

Peru. 4 Escudos, 1812-JP (Lima). Fr-51; KM-122. Small draped and laureated bust of Ferdinand VII to right. Reverse :; Crowned Hapsburg arms within chain of the Order of the Golden Fleece. Mint mark at lower left and assayers' initials at lower right, separated by fleece. Faint vertical adjustment marks center obverse. Lovely reflective fields with medium gold tone and bold luster. A very rare two year type featuring the same bust used on the Lima 2 Reales. Very Rare. NGC graded MS-61. Estimated Value $16,000 - 18,000 Ex. Eliasberg, AMR Sale, April 2005, Lot 3514.