Nicaragua
Leon. Provisional "Imitation Cob" 2 Reales 1823 PM-PY XF Details (Edge Filing) NGC, KM-Unl. (var. of KM15.1 under Honduras). 6.6gm. An exceptionally rare type. The "PM" initials stand from Moneda Provisional, while the "PY" ones (flanking the (18)23 date) are simply replicating the ones found on Potosi's 1723 and 1724 cob issues, in a further intent to mimic those issues.
Ex. Richard Stuart Collection
HID02901242017
Estimate: 1200-1400 USD