Watch List notes:

Mexico City, Mexico, 4 reales, Charles-Joanna, "Late Series," assayer L/A to right, mintmark M to left (M-L/A), rare. Nesmith-86; CT-84; S-M9.. 13.55 grams. Broad flan with complete design, UNC with luster but areas of faint surface porosity as salvaged (probably "Golden Fleece" of ca. 1550), some toning around details, clear L/A (important as establishing the first period of assayer L BEFORE assayer S).
($350-500)