Mexico
Charles & Johanna "Early Series" 2 Reales ND (1536-1542) ◦M◦-◦P◦ XF40 NGC, Mexico City mint, KM0011, Cal-123, Nesmith-25d. 6.7gm. Panel Left/Plain Circles variety. Pleasingly struck with brilliant centers and delicately toned legends. A few thin marks run through the shield, but blend well into the coin's fabric. A very rare variety of this very scarce type and one of the few survivors that shows no visual surface degradation due to saltwater immersion.
https://coins.ha.com/itm/mexico/mexico-charles-and-johanna-early-series-2-reales-nd-1536-1542-m-p-xf40-ngc-/a/3085-31815.s?type=CoinArchives3085
HID02906262019
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Estimate: 1000-1500 USD