Watch List notes:

Tlalpujahua (Supreme National Congress), Mexico, 8 reales, Ferdinand VII, 1813, struck silver, encapsulated NGC XF 45, extremely rare. KM-215.2; CT-657. With deep toning and traces of luster, albeit (typically) crudely struck with some details weak, this is a choice specimen of an extremely rare and important War of Independence issue struck for the insurgent Supreme National Congress of Mexico in the town of Tlalpujahua (mintmark T) in Michoacan, with assayer(?) SoMo (alternately interpreted by Dasi as Suriano Mexicano), slightly off-center strike. Note that KM (which misleadingly calls this issue simply National Congress) does not give values above VF.

Estimate: $10000