Watch List notes:

Madrid, Spain, 20 reales, Joseph Napoleon, 1811AI, small eagle. KM-551.2; CT-29. 24.79 grams. XF/AU with nice toning, light surface corrosion (parts of rims affected), dark patches at top. With generic certificate from the salvagers. Cabalva, sunk in 1818 off Mauritius in the Indian Ocean

Estimate: $125-200