Watch List notes:

Mexico City, Mexico, 2 reales, Charles-Joanna, "Early Series," assayer P to right, mintmark M to left (oMo-oPo), very rare. Nesmith-25 for type/25a; CT-123 type; S-M4. 6.75 grams. HISPANIARVM variety. Broad flan with full details (bold legends), AU with light toning (low contrast), faint traces of porosity near edge (probably salvaged).
($2500-3750)