Watch List notes:

Potosi, Bolivia, cob 1/4 real, Philip II, assayer B to left (2nd period), mintmark P to right, M-style lion, rare. S-P6; Janson-unl. (cf. 6.3.1); KM-unl.; CT-unl. 0.80 gram. Broad flan with bold full castle and lion, the latter of the "flat" style (technically passant) of earlier assayer M (but turned upright to fit the space), full B-P and much legend despite some flatness, nicely toned Fine with crude hole.

Estimate: $500