Watch List notes:

Mexico City, Mexico, cob 1 real, Philip II, assayer O to right, mounted cross-side out in 14K gold pendant with swivel bail and dolphin and seahorse embellishments. 6.06 grams total. Worn, holed coin with two flan cracks (visible only from reverse side), set in an attractive pre-made bezel with dolphins and seahorse.

Estimate: $150 - $225