Watch List notes:

Mexico City, Mexico, cob 1/2 real Royal, 1725D, Louis I, very rare. S-M23; KM-unl. (cf. R25); CT-55. 1.69 grams. Beautifully toned AU- with typical hole at top, very bold strike showing so much detail that you can see traces of a Philip V monogram under Louis I (strange because the 1724 in the previous lot did not show Louis/Philip). Pedigreed to the Santa Rosa de Lima collection.

Estimate: $1500