Watch List notes:

Potosi, Bolivia, cob 8 reales Royal (galano), 1652E Transitional Type V/B mule, unique, ex-Ullian, Horner Plate Coin. S-P37; KM-unl; CT-unl. 25.63 grams. A very impressive shipwreck coin, in terms of both strike (details) and preservation, with all details even and full (including the legends), just some doubling on the pillars side keeping it from perfection, also notably well toned and almost totally lacking in surface corrosion. In the accompanying letter, conservator Ruth explains that this coin was among 33 "very rare and unique" coins that were "marked for special processing," and this particular coin was photographed at that point for inclusion in Horner's book. The letter goes on to describe how Ullian (as an investor) received the coin in his division and brought it to us for evaluation before encapsulation by ANACS. What is not revealed in the letter is that we sold the coin for Lou in 2005, and at some point it was removed from the ANACS slab. By our records no other Royals for Type/B are known (missing in Lazaro). Pedigreed to the Lou Ullian collection and Plate Coin in the book Shipwreck (1999), by Dave Horner, with 2012 letter from the conservator, Joel Ruth, to a previous owner, explaining its pedigree, also with ANACS tag that says AU 50 / 1652-P 8R / POTOSI ROYAL TRANS / "CAPITANA" ECUADOR. Recovered from: Capitana, sunk in 1654 off Chanduy, Ecuador
(6000 - 9000 USD)