Watch List notes:

Potosi, Bolivia, cob 4 reales, Philip III, assayer curved-leg RL, Grade 1, ex-Santa Margarita (1622), mounted shield-side out in 14K gold bezel with shackle bail. 18.04 grams total. Choice full cross-lions-castles and shield enhanced by black toning in crevices, minimal surface corrosion, possibly lightly rounded on edge to fit the nearly round bezel. From the Santa Margarita (1622), with original Fisher tag and photo-certificate 87M-137526.
($1500-2250)