Watch List notes:

Arequipa, Peru, 1/4 real, 1839, encapsulated NGC MS 62, rare. Exceptional grade (one of only five coins at MS in NGC census), with muted luster and faint rainbow toning, parts of rims crude (as made), one-year type with value of $8000 for UNC in KM.

Estimate: $1250 - 2000