Watch List notes:

SCOTLAND. James VI. 1567-1625. AR Two-thirds ryal (37mm, 20.67 g, 5h). First coinage. Edinburgh mint. Dated 1569. Crowned royal coat-of-arms; crowned I R across field / Upright sword surmounted by crown; hand pointing toward XX (denomination); 15 69 across field. Cf. Burns 4 and fig. 922 (for type); SCBI 35 (Ashmolean & Hunterian) 1214; SCBC 5474. Near EF, toned, a hint of flat strike at periphery. Exceptional strike for issue.