Watch List notes:

Madrid, Spain, gold bust 2 escudos, Charles III, 1788/78 M/PJ, NGC AU 58. Cal-1573; KM-unl (417.1a for type). Nice luster (especially on reverse), choice full rims, high-point wear on bust only, bits of black encrustation in crevices of shield, the overdate clear but the over-assayer harder to discern, second finest in NGC census behind a single MS 62.

Estimate: $300 - $450