Watch List notes:

Popayan, Colombia, 4 reales-sized proclamation medal, Ferdinand VII (bust of Charles IV), corded edge, rare, 1808, NGC MS 61, finest known in NGC census. Restrepo-22 (p. 130); Fonrobert-8218; Herrera-49; Medina-344. 32mm Obverse with armored bust of Charles IV [sic] flanked by TIBI and FIDES above ET AMOR* within legend PREDILECTUS HISP [rosette]ET IND [rosette] REX [radiant rosette] FERDINANDUS VII [rosette]; reverse with mountains and city within legend [rosette] PROCLAMATUS [rosette] IN [rosette] CIVIT [rosette] POPAIENENSI [rosette]. Light steely toning over luster, minimal high-point wear, rim-flaw at about 3 o'clock, the finer of just two in the NGC census.
($1000-1500)