Watch List notes:

Potosi, Bolivia, cob 8 reales, 1625 P, quadrants of cross transposed, very rare. S-P23; KM-19a; Cal-1443. 22.29 grams. Corroded from salvage but with relatively clear date that shows about half the 6 and 2 and all of the 5 (narrower than expected, with straighter tail) outside a full but off-center cross with prominent lions ("flat" style typical of the mid-1620s), the shield also full and well centered with mostly clear P-dot-P to left, Fine details overall, only the third example of this date we have ever heard of.

Estimate: $200 - $300