Watch List notes:

Potosi, Bolivia, cob 2 reales, Philip II, assayer M (large) to right, rare, ex-Atocha Research Collection. S-P2; KM-3.2; Cal-unl. 6.60 grams. This coin is a thrill on many levels: First, it is very choice example from the Atocha (1622), pedigreed to the famous Research Collection, with no corrosion and XF/VF details, excellent full shield and cross, much legend and nearly full crown. Second, it is a rare early issue with P-M to right ("large" M meaning a complete capital M with straight sides, as opposed to the "small" M with lower middle part and serifs); but to the early Potosi scholar what may be the most interesting is that it is struck from the same obverse die as Research Collection coin 37 (sold as lot 1051 in the Ponterio auction of March 1996 with incorrect RC reference) with assayer B punched over denomination ii to left and new denomination ii punched over P-M to right, a confusing re-use that skipped assayer L in between. Pedigreed to the Barry Stallard collection and to the Atocha Research Collection (coin 21), with original Fisher tag 236072.
($1000-1500)