Watch List notes:

Lot of 3 Panama(?) "C" and "P" countermarks on Spanish Ferdinand-Isabel 1R (one) and 1/2R (2), rare. 5.28 grams total. Toned F-VF on average, the 1R corroded and crude but all with bold countermarks that are believed to stand for Castilla de Oro (the original name of the area) and Panama, as most specimens are found there.

Estimate: $500