Watch List notes:

Potosi, Bolivia, cob 8 reales Royal (galano), 1656 E, PH at top, pomegranate above cross, rare, NGC VF 35, finest and only example in NGC census. S-P37a; KM-R21; Cal-1416. 26.77 grams. Broad flan with choice full legends (slightly doubled) and interiors, finer style that is more like 1657 than 1655, die-match with Lazaro #145 (R2), richly toned all over, highly desirable as unholed, best at NGC for the PH variety (one finer at XF 45 without PH at top). Pedigreed to the Jorge Ugaz collection (stated on label).
($6000-9000)