Watch List notes:

Lima, Peru, 2 reales, Philip II, assayer R (Rincon) to right, motto PL-VSV-L, legends HISPA/N / NIARVM. S-L1; KM-8; CT-481. 6.16 grams. Full but uneven AXF details with light surface porosity, bold assayer, edge-split, light steely toning.

Estimate: $300-450