Watch List notes:

Mexico City, Mexico, 4 reales, Charles-Joanna, "Early Series," assayer R at bottom between pillars, motto PLVS in rhomboid panel, encapsulated NGC VF 35. Full flan that even shows the borders of dots OUTSIDE the legends, nicely toned, minimal doubling, high points weak but otherwise choice, curious backwards N in legend.

Estimate: $2500 - 3750