Watch List notes:

Santo Domingo, Dominican Republic, enriched billon (silver/copper) 11 maravedis, Charles-Joanna, assayer F to right, denomination XI to left, mintmark P-S flanking large R, extremely rare. KM-22; CT-unl. 2.94 grams. An issue so rare and obscure that this is the only the second time one has been offered at auction (the first being a lesser example in our Auction #7), with a known population of just seven pieces, all designed with a crowned R (supposed to be Gothic K for KAROLVS) flanked by mintmark P-S on one side and castle flanked by assayer F and denomination XI on other side (worth 1/4 real in its time, as the real was valued at 44 maravedis), all of which is clear on this specimen along with much legend, no worse than VF grade but with light surface porosity, hairline edge-split and uneven copper-silver color (as expected for billon), overall a rather decent example of a unique and ephemeral issue.

Estimate: $2000-4000