Watch List notes:

SPAIN: Juan Carlos I, 1975-2014, AV 20,000 pesetas, 1991, KM-898, Fr-367, AGW 0.2168 oz, Olympics-Montjuïc Stadium, medal alignment, edge with reeded and plain sections, small obverse toning spot, mirrored fields, mintage of only 3,329 pieces, Proof, S. Whereas Krause states that uncirculated strikes of this type have medallic alignment and proofs have coin alignment, as well as different edges, we have found coins online that are obviously business strikes with no proof finish. This leads us to believe that this piece is a proof and maybe all proofs have these characteristics.

Estimate: 400-500 USD