Watch List notes:

Potosi, Bolivia, cob 4 reales, Philip III, assayer not visible, Grade 3, ex-Santa Margarita (1622), mounted cross-side out in silver bezel with 14K gold prongs, shackle bail, pirate-face and galleon embellishments. 23.79 grams total. Full and uncorroded cross (flat in places), the shield off-center and partially corroded (still solid for the Grade at 12.3 grams)but mostly covered with galleon anyway, toned in crevices, probably lightly rounded on edge to fit the nearly round bezel. From the Santa Margarita (1622), with original Fisher tag and photo-certificate 112.
($800-1200)