Watch List notes:

George III (1760-1820), Emergency Issues (2 January 1804), Octagonal-Countermark Half-Dollar (4-Reales) 1796 MF, Madrid, security edge, 13.18g, 12h (Bull 1886 [R5]; ESC -; Spink 3767A), some nicks to rim at 12 o'clock, otherwise lightly toned, the host coin, fine or marginally better, the countermark good to fair but extremely rare for this denomination.

Estimate: £500.00 - £800.00