Watch List notes:

Mexico City, Mexico, 3 reales, Charles-Joanna, "Early Series," assayer R (Rincon) at bottom between pillars, with waves, three-dots denomination, all-Gothic lettering except O, NGC VF 30, finest and only example in NGC and PCGS censuses, ex-Rudman. Nesmith-5b/5; CT-unl; S-M1. 9.74 grams. A classic and highly important issue, this is the first of the experimental 3-reales denomination (see article above), and it is arguably the finest in style, making for a very attractive and artistic design. It is also among the earliest coinage of this mint and the entire New World. The presence of water lines ("waves") below the pillars is a feature that does not return until the "Late Series" a few years later. Exceptionally broad flan with full details, lovely toning and choice strike, one of only two problem-free examples known of this extremely rare and mysterious "with-waves" variety (the other impounded in the Banco de Mexico collection), worthy of inclusion in the finest of collections.
(35000 - 70000 USD)