Watch List notes:

Potosi, Bolivia, cob 4 reales, Philip II, assayer B (1st period). S-P4; KM-4.2. 13.86 grams. A match with Sellschopp #48, this variety of 1st-period B with "flat" lions on the cross side (an aspect of assayers R, M and 1st-period L) is not (yet) known in 8R. Also, curiously, the mintmark P is tiny and is probably the same punch used on all the lower denominations associated with this variety. The cross-lions-castles and shield on this piece are choice and well defined, but the peripheries (legend) are somewhat weak and bear a plugged hole at the top. VF with black toning around details.

Estimate: $175-250