Watch List notes:

Tegucigalpa, Honduras (Central American Republic), 2 reales, 1825NR, rare. KM-10. 5.64 grams. After the provisional "imitation cob" issues of 1823-4, the Tegucigalpa mint began striking crude round coinage under the Central American Republic in the form of 1R dated 1824 and 2R dated 1825, as we see here, with crude design of sun-over-mountains on obverse and small ceiba tree on reverse and legends specifically referring to the Central American Republic. The legends also show a fineness as 11 dineros (under the tree), which equated to the old Spanish colonial cob standard of 91.7% silver, in contrast to the 90.3% standard for the other CAR issues from Guatemala. However, the relative crudity of the Tegucigalpa issues, along with their lower-than-indicated fineness, made them unpopular, and they were soon outlawed by decree of May 7, 1825. As a result, both issues are very scarce to extremely rare. The present coin, with mintmark T for Tegucigalpa and assayer initials NR for Narciso Rosal, grades VF, with olive-green toning, nearly all details bold and clear except for LIB (weak) and NR.T.11D (doubled) on reverse, crude rims and minor flaws.
(2000 - 3000 USD)