Watch List notes:

Lima, Peru, cob 1 real, 1694 M, NGC MS 61, finest known in NGC census. S-L11; KM-20; Cal-225. 3.71 grams. Broad flan with much legend (including date and CAROLVS II) and full inner details, all three dates and mintmarks and assayers, extremely high grade for a silver cob (next highest in census being XF 45) and positively dripping with luster, no toning, just a gleaming beauty.

Estimate: $500 - $1000