Watch List notes:

Small, round gold "pancake," 11.94 grams, ex-Espadarte (1558), with Sotheby's catalog. About 3/4" in diameter and 1/8" thick. Cute little droplet of gold with no markings but some areas of encrustation, one side covered with the original sticker from the salvagers, scarce provenance. From the Espadarte (1558), with certificate #1035 from the salvagers, and pedigreed to our Auction #3, with original lot tag #58, also with catalog of the Christie's (Amsterdam) "Fort San Sebastian Wreck" auction of May 2004.
($400-$600)