Watch List notes:

Mexico City, Mexico, cob 2 reales, Philip V, assayer not visible, ex-Princess Louisa (1743), mounted cross-side out in heavy sterling silver bezel with 14K gold prongs, shackle bail and pirate face embellishment at bottom. 12.53 grams total. Full but off-center cross, full crown above most of shield, light surface corrosion all over. From the Princess Louisa (1743).

Estimate: $125-200