Watch List notes:

Seville, Spain, gold milled 8 escudos, Philip V, 1701M, mintmark-assayer and denomination on obverse, NGC AU 55.Cal-2266; KM-259.Scarce initial issue of this first date of type with mintmark-assayer S-M and denomination VIII crammed into the areas between the Golden Fleece chain and legend on obverse (later moved to the tressure-dimples of the cross), also a sub-variety with dots flanking the fleece between king's name and ordinal at bottom (noted on the label as "flower after V" as opposed to before), somewhat irregular edge (as made) but inner details choice.
($4000-6000)