Watch List notes:

Mexico City, Mexico, 4 reales, Charles-Joanna, "Early Series," assayer R between pillars. Nesmith-6; S-M1; KM-16; CT-71. 5.43 grams. Thin and heavily corroded but with just enough details to recognize the variety (PLVS in oval panel, etc.), with good full shield and crown, weaker pillars, assayer not visible but determined by style, good toning. Pedigreed to our Auction #11, with original lot-tag #227. Recovered from: Unidentified ca.-1554 wreck off Santo Domingo, Dominican Republic

Estimate: $200