Watch List notes:

Mexico City, Mexico, cob 8 reales, Philip IV, assayer not visible (P), fused to a piece of coral (as found). KM-45. 110 grams. Choice coin with full shield facing out, nicely toned and with minor edge-loss (only) to corrosion, perched atop a bright white hunk of wormy coral, very nice for display. Recovered from: Concepcion, sunk in 1641 off Hispaniola

Estimate: $500