Watch List notes:

Mexico City, Mexico, 1/2 real, Charles-Joanna, "Early Series," assayer P to left, mintmark M to right of monogram without annulets (P-M), motto as PLV in right-leaning rhomboid panel, extremely rare, NGC VF 30, finest and only example in NGC census. Nesmith-18 type/18; Cal-45; S-M4; KM-6. 1.60 grams. A curious coin with P-M and no annulets (only found in this and the 1 real denomination), this is only the second one we have seen, and Nesmith never even saw one. It also contains the spelling errors KARLVS and IOMANA. Overall a very attractive specimen with possibly a small crack at the top of the obverse but not penetrating to the other side. Note the Nesmith 18 coin (listed as from the Clyde Hubbard collection) is not this coin (and has annulets above and below P and M). NGC #6448168-015. Pedigreed to the Clyde Hubbard Collection of Mexican Charles-Joanna Coinage (stated on label). Accompanied by original tag or holder from Clyde Hubbard.
($2000-3000) NOTE: The printed catalog shows the wrong estimate due to typographical error.