Watch List notes:

Mexico City, Mexico, 2 reales, Charles-Joanna, "Early Series," assayer R (Gothic) between bottoms of pillars and motto as PLVS in rounded panel, very rare, NGC VF 35. Nesmith-4 for type/4; Cal-86; S-M1; KM-10 . 6.76 grams. Smaller denominations from the Early Series assayers are hard to find and mostly non-shipwreck, this a lovely well-centered piece with attractive silvery toning and full details. It is one of seven known of the "PLVS in rounded panel" type and all have slight variations. Hubbard may have purchased it from Jose Tamborrel in 1955 according to his typewritten note on the coin envelope, but it's not listed in Nesmith. Tied with two others for second finest in NGC census behind a single AU 50. NGC #6448168-010. Pedigreed to the Clyde Hubbard Collection of Mexican Charles-Joanna Coinage (stated on label). Accompanied by original tag or holder from Clyde Hubbard.
($3500-5000)