Watch List notes:

Cuzco, South Peru, 8 reales, 1837BA, FEDERACION, incuse edge lettering, PCGS MS63, finest and only specimen in PCGS census, ex-Canaparo (stated on label). KM-170.1. Very faint toning over lustrous surfaces, sharp and crisp details (and this design has many, as it is highly artistic and full of symbols), one of the best being the brooding sunface with visible browlines in forehead, not only the finest at PCGS but also better than the top-pop MS 62 at NGC. Pedigreed to the Canaparo collection (stated on label). PCGS #37260810.

Estimate: $2500-3750