Watch List notes:

Leon, Nicaragua, 1 real proclamation medal, Ferdinand VII (bust of Charles IV), 1808, rare, NGC AU 58. Cal-562; Medina-312; Grove-F83; Herrera-27; KM-M1. Bold strike, nice luster, toning around details, slightly off-center reverse, choice grade for this issue (often found holed), popular as effectively the only colonial coinage struck in what is now Nicaragua.
($1000-1500)