Watch List notes:

Panama, cob 2 reales, Philip II, assayer oX at 4 o'clock outside tressure around cross, mintmark AP to left, denomination ii to right of shield, very rare, ex-Atocha (Douglas auction), ex-Richard Stuart, KM Plate Coin, Proctor Plate Coin. S-AP1; KM-3.1; CT-505. 5.94 grams. Very choice and well-detailed full crown, nice full shield and cross (small flat area in each), lots of bold legend, bold full mintmark and denomination and assayer, toned XF with practically no corrosion. Proctor notes that this die-set displays upside-down eagles at upper right in shield and the upper-right lion in cross tilted forward, evidence of difficulties at this fledgling (and ephemeral) mint. Important pedigrees, one of very few Panama specimens from the Atocha. Pedigreed to the Richard Stuart collection, and to the Douglas auction (Deerfield, Mass., November 1987, lot #30) of coins and bullion from the Atocha (1622), also Plate Coin on page 441 of Spain, Portugal and the New World (2002), by Krause-Mishler, and Plate Coin #2R.2X on page 137 of The Forgotten Mint of Colonial Panama (2005), by Jorge Proctor.
($5000-10000)