Watch List notes:

EL SALVADOR. El Salvador - Guatemala. 2 Reales, ND (1862-63). PCGS VF-20; Countermark: VF Details.
KM-92. Type IV Countermark, "R" (Rehabilitado) within circular beaded boarder of 21 beads. Applied to an 1861-R Guatemala Republic 2 Reales (KM-134).The countermark is boldly applied to the base of the bust on a decently preserved host with plenty of remaining details. This moderately worn example displays light attractive mottled gray patina with areas of richer coloration.

The time period in which these countermarks were issued was filled with strife and turmoil. To circumvent the forgeries of current Guatemalan coins then in circulation, they were inspected by local officials and if found to be of correct weight and fineness were countermarked with the "R" within beaded boarder. The Salvadorian Government under President Gerardo Barrios Espinosa (12 March 1859 to 26 October 1863) was the only Central American state that remained loyal to the federation and was under continuous threat of invasion from neighboring Honduras, Nicaragua and Guatemala. President Barrios fled El Salvador to Nicaragua in 1863 where he was eventually captured and extradited back to El Salvador. He was tried 28 August 1863 and executed the next day. He is considered a national hero and his name is honored by the naming of national institutions, two major cities and his life is taught in school.

Estimate: $125 - $175