Watch List notes:

Potosi, Bolivia, cob 1 real, (16)25P, upper half of shield and quadrants of cross transposed, extremely rare. S-P23; KM-12a. 3.40 grams. Small and crude flan with bold full 25 of date (only the second specimen we have seen), also full assayer P, off-center shield, nearly full cross, Fine with spotty toning. Pedigreed to our Auction #4, with original lot-tag #707, and with original Baldwin's (London) envelope. (Estimate: $275 - 400)