Watch List notes:

Lima, Peru, cob 4 reales, Philip II, assayer X below mintmark P to right, HISPANIARVM with H, very rare. S-L3; KM-11; Cal-497. 11.74 grams. Smaller flan, still with nearly full legends and crown and intricately detailed full shield and cross-lions-castles, fairly clear P-X, nicely toned, XF details with surface porosity and three unexplained punchmarks.
($500-759)