Watch List notes:

Madrid, Spain, bust gold 320 reales de vellon, Ferdinand VII, 1822SR, NGC MS 63. CT-36; KM-566. Choice luster and good strike with clear sideburn (highest point, usually missing), minimal surface hairlines on obverse, a few tiny spots of red toning, tied with three others for finest known in NGC census. NGC #3937638-001.

Estimate: $10000-20000