Watch List notes:

PHILIPPINES. Philippines - Mexico. Real, ND (1835-37). Isabel II. PCGS Genuine--Cleaned, VF Details Gold Shield; Countermark: AU Details.
KM-A87; Basso-43 (for countermark type); Gil Crown variety-5-4-3. Type VI Countermark, crowned Y.II. within circle. Issued by decree of 14 December 1835, suppressed 31 March 1837, by Decree of 1 February 1836. On an 1831-ZsOV Mexico Republic 1 Real. This EXTREMELY RARE denomination seldom appears on the open market missing from many advanced collections certain to see spirited bidding from serious collectors looking to very difficult types from this series. The countermark is deeply applied, cracking the host coin in the process, from a fairly degraded punch somewhat muddling the design. Evidence of being cleaned long ago now displaying attractive tone in the open areas with richer coloration amongst the devices. Despite its shortcomings a handsome and highly desirable type destine for an advanced collection of countermarks.

By comparison the 1 Real is the rarest silver denomination from the countermarked series, in fact we have recorded less examples of the 1 Real, twelve (12) including the present example to be exact, than we do of the extremely rare 1830 Manila overstrikes, about fifteen (15) which are one of the keys to this series. It has been suggested that the actual survival rate of the 1830 issues is around 25-30 pieces which we think is probably as accurate as one could hope for. This significant offering is a real treat for the specialist actively seeking rare and interesting denominations and the first we can recall being offered at public auction in many decades.

Estimate: $2000.00- $4000.00