Watch List notes:

Mexico City, Mexico, cob 8 reales, Philip II, assayer F. S-M12; KM-43; CT-154. 27.17 grams. Somewhat crude flan with thick edge but thinner interior resulting in some bold legend (including king's ordinal II) and weaker (but full) shield and cross, clear assayer, VF with toned fields, shallow striking cracks to right of cross that give the appearance of elephant skin.
($300-450)