Watch List notes:

SALVADOR: AV 5 pesos, 1892-C.A.M., KM-117, Y-12. Fr-3, boldly struck classic-head design, with a hint of reddish toning, mintage of only 558 pieces, one-year type, tied for finest graded at NGC (March 2017), NGC graded MS61, R, ex Richard Stuart Collection. The weights of the 1892 gold coinage were based on a silver/gold ratio of 15½ to 1. But, the world market ratio was much higher at almost 18½ to 1. Thus, the gold coinage was undervalued by market standards and many were hoarded or exported. This is one reason these coins are so rare and command the prices they do.

Estimate: 2,000-2,500 USD