Watch List notes:

Mexico City, Mexico, 4 reales, Charles-Joanna, "Early Series," assayer P over erased Latin R at bottom between pillars, PLVS in rhomboid panel, extremely rare, encapsulated NGC XF 45. Nesmith-unl; S-M4; CT-70. 12.5 grams. Broad flan with full details but small part of edge lost to corrosion as probably from the "Golden Fleece wreck" of ca. 1550, nicely brown-toned all over, with hints of luster. This is an important issue showing a re-used die of assayer R and providing a chronological linkage between the two assayers. Pedigreed to the Stack's Bowers auction of August 2015 (lot #31003). ($4000-6000)