Watch List notes:

Lima, Peru, cob 2 reales, Philip II, assayer X to right, Grade 1, very rare, ex-Atocha Research Collection coin #25. S-L3; KM-9; CT-495. 6.45 grams. Full inner details (worn but not corroded) and much legend including king's name misspelled as PHILPPVS (normal for this issue), bold assayer X to right and denomination ii to left, lightly toned. We have had other examples of this very rare issue, but not from the Atocha, let alone from the Research Collection, which makes this piece very important to shipwreck collectors. The expert numismatist, however, will appreciate the fact that the lions on the reverse are actually what Sellschopp called "Segovia" lions (as opposed to the simple passant lions on other specimens we have offered), identical to what was used starting with assayer Rincon at Potosi. Strangely, Sellschopp did not identify these lions as such in his treatment of subsequent Diego de la Torre pieces. In any case we suspect this coin has great significance in piecing together the transfer of dies and tools from Lima to La Plata to Potosi. Pedigreed to the Classics collection, with Fisher tag and photo-certificate #236922. Recovered from: Atocha, sunk in 1622 west of Key West, Florida

Estimate: $3000-6000