Watch List notes:

Mexico City, Mexico, 4 reales, Charles-Joanna, "Early Series," assayer P to left, mintmark M to right (oPo-oMo, the annulets dotted), motto as PLVS in left-leaning rhomboid panel with dotted annulets on either side, G/X in legend, very rare, NGC XF 45. Nesmith-21; Cal-124; S-M4; KM-17. 13.61 grams. Given that coins with oPo-oMo coupled with a left-leaning panel are the rarest and earliest from assayer P, this is the type of coin a discerning collector loves. Other features are the use of HISPANIE (versus the later HISPANIARVM) in the pillars legend, REG/X (a transition from REG to REX), and an error spelling of IOHANARE with the A punched over annulets. Nesmith included a number in his catalog for oPo-oMo 4 reales but never saw one (and certainly not one with this unusual lettering), and we have seen only one other example. This is a beauty given its choice toning and full legends, probably not shipwreck (where most have been found). The pillars side was photographed in an article Hubbard wrote for a Mexican magazine called Artes de Mexico, No. 103, 1968 (p. 14). NGC #6448168-036. Pedigreed to the Clyde Hubbard Collection of Mexican Charles-Joanna Coinage (stated on label) and to the Schulman auction of November 1964, lot 2296. Accompanied by original tag or holder from Clyde Hubbard.
($3000-4500)