Watch List notes:

Lima, Peru, cob 1 real, Philip II, assayer X, extremely rare. S-L3; KM-unl.; CT-unl. 2.10 grams. Corroded from unspecified salvage but with full and clear P-X and bold denomination I, good full shield (off-center) and cross, lightly toned, XF details. First specimen we have ever offered in our auctions and only the second we have ever handled.

Estimate: $1500