Watch List notes:

Mexico City, Mexico, cob 4 reales, Philip II, assayer O below mintmark oM to left (oMO), ex-Santiago (1585), mounted cross-side out in twisted-wire 14K gold bezel with shackle bail. 20.72 grams total. Bold full cross and shield (XF details) with nice toning and no corrosion but flan-flaw at bottom of cross. From the Santiago (1585).

Estimate: $350-500