Watch List notes:

EL SALVADOR: Republic, AR real, ND [ca. 1868], unlisted countermark on nearly slick Mexico Cap and Ray real [KM-372], similar to type V countermark, but includes "15 DE 1821" at top, RR, ex Ponterio Auction 151, Lot 9150. The Act of Independence for Central America was signed in Guatemala on September 15, 1821.

Estimate: 300-500 USD