Watch List notes:

Cuba (Mayari), silver 1/2-real(?) token with incuse MORALES above 1 over 2 denomination, made from a US Seated Liberty half dime (1800s), very rare. 1.10 grams. One of very few examples known, all believed to be made from half dimes, this one to our knowledge the only one without a hole, with oversized arms (lions/castles) covering the entire reverse and the obverse punched with MORALES H(o) in a box above an incuse 1 over 2 believed to stand for 1/2 real. Clearly from the same series are some 10 centavos (supposedly) made on US dimes with incuse 10 and also a unique 20 centavos made on a Spanish colonial 2 reales (both of those denominations with JUNIO below the number), the last-mentioned with more of the reverse design showing a clear DE MAYARI below the arms. Toned Fine with no host-coin details showing.
($2000-3000)