Watch List notes:

Mexico, oval "YRNO"(?) countermark on a Potosi, Bolivia, bust 8 reales, Ferdinand VII, 1823PJ, very rare. 26.95 grams. The bold, full and very well-detailed countermark on this coin is believed to stand for Ignacio Lopez Rayon, the leader of the insurgent Mexican government after Hidalgo, but why his countermark would appear on a South American coin from several years AFTER the Mexican War of Independence is a big mystery, yet this is the second one we have seen (same host date too), the other being lot #1311 of our Auction #11, which sold for $700 plus buyer's fee. This second specimen is a solid VF host with XF countermark, nicely toned but with crude old hole at top. With only slight stylistic differences, the countermark monogram is essentially the same as the one pictured in Elizondo (MX-179), which he simply calls "Very Rare" without prices or attribution.

Estimate: $250