Lima, Peru, cob 1 real, 1751/0R, struck from 2R dies (unique error). 2.58 grams. Bold strike in high grade (lightly toned AU-) with clearly oversized details for the flan (which is decidedly not just "cut down" because the thickness is for a 1R too) and an obvious denomination "2," the overdate also quite clear, a fascinating coin from a period in which all kinds of mistakes were occurring at this mint.
Estimate: $100 - 200