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. Nesmith-unl; S-M4; CT-70. 12.51 grams Bold pillars, weaker but full shield, nearly full legends, darkly toned and with light surface corrosion (otherwise XF), important as the issue that defines the succession from assayer R to assayer P. From an unidentified ca.-1554 wreck off Santo Domingo, Dominican Republic, and pedigreed to our Auction #12, with original lot-tag #894. ($1250-2000)