Watch List notes:

Caracas, Venezuela, 4 reales, Ferdinand VII, 1820 BS, proper quadrants, rare, NGC VF details / holed. Cal-1028; KM-C7.2; Stohr-12. Attractively toned, with full details and some outer border, typically holed at bottom (medal alignment), desirable as the largest denomination struck in Caracas during the struggle for independence.
($700-1000)