Watch List notes:

Lima, Peru, cob 2 reales, Philip II, assayer X below mintmark P to right, very rare. S-L3; KM-9; Cal-336. 6.60 grams. Full and well-detailed shield and cross, with bold assayer and clear denomination, not much legend, slightly porous AXF with a few hairline cracks, much rarer in this denomination than oD/X. Crucially, the lions (and castles) are large (4R-sized) and in fact match the style ("Segovia" lions) used on later issues at Potosi, namely those of assayers R, L and B (but not M), probably indicative of punches transported there after the brief striking in La Plata.
($500-750)