Watch List notes:

Mexico City, Mexico, cob 4 reales Royal (galano), 1728/5 D, PHILIPPVS/LVDOVICVS, unique, NGC VF details / plugged, ex-Rudman. S-M23a; KM-unl; Cal-unl (Type 138). 12.54 grams. Just like the 8 reales of 1725-30 (see lot 434 above), the 4 reales of this period were also all struck from obverse dies that were modified from one originally engraved in 1725, with none made in 1729 and the "next in line" after the current piece being a unique 1730/28/5 R/D in our Auction 28 last year. The present coin, typically round and evenly struck, with full details and perfect medallic alignment, also beautifully toned, was once holed at top like nearly Royals, but a careful artisan has faithfully recreated the central crown design on obverse and flower ornament on reverse while leaving enough evidence not to deceive, making for a very pleasing aspect overall. Pedigreed to the Isaac Rudman Numismatic Cabinet.
($10000-20000)