Watch List notes:

Toledo, Spain, cob 2 escudos, Philip II, assayer M below mintmark T [sic] to left. Cal-unl (cf 862). 6.72 grams. Rare variety with no o above mintmark (unlisted in Calico), typically well-detailed full shield and crown and cross, full T-M to left and bold full denomination II with two dots above to right, nice XF+ with faint red toning.

Estimate: $1750 - $2500