Watch List notes:

SALVADOR: AR 2 reales (6.05g), 1839, KM-36, Type III volcano countermark issue on 1827JM Peru 2 reales (KM-141.1), "3" in countermark date repunched, original tone, Fine to VF on VG host. This issue was produced during a time when there was a dire shortage of coinage in the country. There were many Peruvian coins in circulation at the time, but most did not meet the government standards for circulating coin. Since some of the Peruvian coinage in circulation did comply with government standards, it was decided to counterstamp these coins so that the public would have confidence to accept them at their bullion value. The countermarking was actually done in 1840, even though the countermark die had been made with the 1839 date, according to Roberto Jovel.

Estimate: 1,250-1,750 USD