Watch List notes:

Mexico City, Mexico, 4 reales, Charles-Joanna, "Late Series," assayer S to left, mintmark M to right (S-M), extremely rare, ex-1554 Fleet. Nesmith-Unlisted; CT-Unlisted; S-M8. 11.72 grams. Most rare assayer of the "Late Series" coins. Full design on a broad, round flan enhanced by dark (typically rusty) toning, AU details with surface porosity all over, very bold assayer. From the Spanish 1554 Fleet at Padre Island, Texas.
($3500-5000)