Watch List notes:

Santiago, Chile, 1/4 real, 1792, no assayer or mintmark, NGC VF 25. KM-56; CT-1426 (under Rioxa). Scarce issue with date below castle, small lion on reverse, but nothing else (previously mistakenly attributed to La Rioja, Argentina, but now properly attributed to Chile due to the fact that the castle and lion match with punches used on Santiago 4R), deeply rainbow toned, partially crude rims due to slightly off-center strike, very rare grade for this fascinating type and in fact second finest in NGC census behind a single AU 50. NGC #4715637-015.
($150-225)