Watch List notes:

Belgium, Hainaut, Philip II (1555-1598), ½ Ecu des Etats 1577 (Mons) (Silver, 14.69 gr, 36 mm) Crowned bust, holding sceptre and arms PHS D G HISP Z REX CO HANO Rev. Cross with crowned PHS / PACE ET IVSTITIA. VGH 246-10b, VH 375-MO. Very Fine. Extremely rare variety with king's arm lowered.