Watch List notes:

Mexico City, Mexico, pillar 1 real, Philip V, 1732, no assayer or denomination, rare. Yonaka-M1-32; Gilboy-M-1-1 (footnote); KM-75.1; CT-1592. 3.05 grams. VG/F with thick, dark oxidation around details (good contrast for the grade), also centers weakly struck but clearly the rare first issue without assayer and denomination flanking the shield, possibly a trial strike for this desirable first date of issue. Pedigreed to the Ponterio auction of August 1996, with original lot-tag #994..

Estimate: $350-500