Watch List notes:

Lima, Peru, cob 1/2 real, Philip II, assayer Diego de la Torre, oD to left, * to right, P below monogram. S-L4; KM-5; Cal-121. 1.68 grams. Full and bold monogram and cross (both very slightly doubled), also nearly full legends and crown with curious "velvet" design below it but without the lower loop, AU with dark gunmetal toning all over, scarce arrangement of mintmarks and assayer (the P below the monogram incomplete but certain).
($125-200)