Watch List notes:

Lima, Peru, 1/4 real, Philip II, assayer R (Rincon) to left of crowned I, legend starting on that side, very rare. S-L1; KM-1; CT-761. 0.50 grams Broad flan with nearly full legends, bold crowned I with R to left and crowned R on other side, toned VF with light corrosion as salvaged. (Estimate: $500 - 750)