Watch List notes:

Mexico City, Mexico, 4 reales, Charles-Joanna, "Early Series," assayer P to right, mintmark M to left (M-P), left-leaning panel, lower-left lion punched over castle, NGC XF 45. Nesmith-26 for type; CT-74 type; S-M4. One of three coins known (all P) with bottom left lion punched over a castle on the shield side and unique in this particular variety, of the later HISPANIARVM type, the strike a little flat but with full legends and interiors, another important coin for Charles-Joanna collectors or collectors of error coins. NGC #3703896-003.

Estimate: $2000-3000