Seville, Spain, cob 2 escudos, Philip III, assayer not visible, mounted cross-side out in heavy, .925-silver men's ring (size 11) with 14K gold emblems on sides. 25.31 grams total. Full cross and nearly full tressure with weak spots facing out (XF), shield side completely covered inside, the mounting itself very solid and with gold emblems of crossed swords and pirate face on the sides.
Estimate: $1250 - 2000