Watch List notes:

GALAPAGOS ISLANDS: [AR 2 decimos], ND, KM-3, countermarked "RA" on Ecuador 1895 AR 2 decimos host coin, VF. There has always been controversy surrounding the Galapagos Islands "RA" or "AR" countermarks on Ecuadorian silver coins. One theory is that they were made by merchants, either Rogerio (Rogelio) Alvarado Villamar or Arthur (Arturo) Reed. Another theory is that they were used to pay prisoners. Please see NI Bulletin Volume 50, Nos. 11 / 12, November / December 2015.

Estimate: 100-150 USD