Watch List notes:

MEXICO: Fernando VII, 1808-1821, AR 2 reales, ND, cf. KM-193.2 (KM-186 host), L.C.M. (La Comandancia Militar) countermark on 1811 Zacatecas 2 reales (KM-187), bold countermark on weakly struck host (NGC says the host is worn out, but we believe much "wear" is a weak strike), NGC graded Fair2 with VF standard countermark, R.

Estimate: 275-375 USD