Watch List notes:

Mexico City, Mexico, cob 2 reales, Philip III, assayer F, rare variety with three 1/2R-sized castles in upper-left and bottom-right quadrants of cross. S-M12a; KM-unl; Cal-unl. 6.61 grams. Rare design-type with three small 1/2 real-sized castles used for each castle quadrant on the back. XF with spotty dark toning (probably salvaged), weak yet nearly full shield, nice bold cross.

Estimate: $100 - $150