Watch List notes:

Panama, cob 1 real, Philip II, assayer oB to left, mintmark AP above denomination I to right, Aragon omitted, very rare, NGC VF 30. S-AP4; Cal-236; KM-2. 3.38 grams. Bold assayer and clear but doubled mintmark and denomination, bold crown (nearly full), full but weaker shield and (off-center) cross-lions-castles with clear tressure in characteristically rotated orientation, not much legend (partially flat), lightly gray-toned all over, tied with one other for second finest in NGC census behind a single XF 40.
($5000-7500)