Watch List notes:

Mexico City, Mexico, cob 2 escudos, 1704L, very rare, NGC AU 50, finest and only example in NGC census, ex-1715 Fleet (designated on label). S-M29a; KM-53.1; CT-345. 6.70 grams. Curiously oblong flan with bold full 4 of date, clear oXML, most of shield and cross, the latter slightly weakly struck (hence the grade, although we doubt this coin saw any circulation). From the 1715 Fleet. NGC #4929597-001.

Estimate: $3000-4500