Watch List notes:

Potosi, Bolivia, cob 8 reales, Philip III, assayer M, lions and castles transposed in shield. S-P18; KM-10; CT-123. 26.90 grams. Lightly toned VF with full but partially weak shield and cross, full P-dot-M and denomination, bold king's ordinal III, touch of dark "horn silver" at top of cross, next to clear -M R(EX) indicating a pre-dated issue. (Estimate: $150 - 225)