Watch List notes:

Mexico City, Mexico, 2 reales, Charles-Joanna, "Early Series," assayer P to right, mintmark M to left, lions and castles transposed in shield (very rare, 4 known). Nesmith-26b type; S-M4; KM-10; CT-74 type. 3.45 grams. Latin oMo-oPo, lozenges in legend, left-leaning rhomboid panel with PLVS behind pillars, single annulet in left and right side of rhomboid, annulets in corners, lozenges in legend. Bold legends but somewhat weaker inner details (still full), toned but moderately corroded all over. Pedigreed to our Auction #12, with original lot-tag #313. Recovered from: Spanish 1554 Fleet off Padre Island, Texas

Estimate: $250