Watch List notes:

Italian States, NAPLES: The Spanish Kings 1572 Carlino. Carlino. 1572. Philip II, 1554-1598. Carlino, 2.63g. Naples. Obv: PHILIPP DG REX ARA SI 1572, bare bust to left, breaking legend below, GR/VP to right. Rx: FIDEI DEFEN SOR in three lines, cross above, within wreath. As in Lot 558, this coin exhibits exceptional dies and strike; the date, slightly double struck, merges with the bust, but ends with a 2 and not a 7. Very rare and choice. MIR 181/2. EF.