Watch List notes:

Popayan, Colombia, 1/4 real, 1816/27, mintmark PN, rare, NGC XF details / corrosion, finest and only example in NGC or PCGS censuses. Restrepo-101.3; KM-67.2; CT-1475. Bold details with some dark spots and light surface corrosion, crude rims (as made), scarce issue believed to have been struck by patriots after 1820 using old colonial dies (known to exist in 1/4R, 1E and 8E only), distinguishable by the anomalous PN mintmark. NGC #4715637-008.
($600-900)