Watch List notes:

Potosi, Bolivia, cob 4 reales, Philip III, assayer T, Grade 2, ex-Atocha, mounted cross-side out in 14K gold bezel with shackle bail and pirate-face embellishment. 21.89 grams total. Full but lightly corroded shield and cross, the latter upside-down in this mount, with possible bottom of 22 of date in legend, lightly toned in crevices. From the Atocha (1622), with Fisher tag and certificate 85A-134518.
($1000-1500)