Watch List notes:

Potosi (or La Plata), Bolivia, cob 1 real, Philip II, assayer R (Rincon) below mintmark P to left, rare. S-P1; KM-2.2; Cal-237. 3.18 grams. Only seven pieces out of nearly three dozen Rincon 1R known to us have P-R to left, and all of them are from the same obverse die (Stallard O1). Two are struck from the same reverse die as the known Lima 1R of assayer X, so those are widely believed to have been struck at the ephemeral La Plata mint before the Potosi mint started in 1574. But research is starting to show that the R-to-left 1R like this one with new reverse die (Stallard E) may also be from La Plata. The current example shows a choice full shield and cross-lions-castles, the former with distinctive wear and die-break at top right, full but doubled assayer, deeply toned VF. It is also somewhat underweight, like the two known examples with Lima reverses, perhaps another sign of La Plata mintage. Pedigreed to the Barry Stallard collection.
($200-300)