Watch List notes:

Mexico City, Mexico, 4 reales, Charles-Joanna, "Early Series," assayer F to right, mintmark M to left (oMo-oFo), left-leaning panel, very rare. Nesmith-16 type; Cal-120; S-M3; KM-unlisted. 11.99 grams. Struck on a broad flan with full AU details despite areas of moderate surface corrosion, clear assayer (rarest of the series), light toning here and there, less than a dozen known in all varieties. From an unidentified ca.-1554 wreck off Santo Domingo, Dominican Republic. Pedigreed to Sedwick Auction 24, with original lot-tag 662.

Estimate: $3000 - $4500