Watch List notes:

Seville, Spain, cob 8 reales, Philip II, assayer Gothic D at 4 o'clock outside tressure on reverse, ex-Santiago (1585), mounted cross-side out in silver bezel with 14K gold prongs, pirate-face embellishment and small swivel bail. 42.05 grams total. Massive pendant with heavy-gauge wire around a solid and well-preserved coin with choice full cross-lions-castles, excellent full shield, nicely toned. From the Santiago (1585).
($200-300)