Watch List notes:

Copiapo, Chile, 1 peso, 1865, NGC AU 55. KM-4. Deep toning inside incuse lettering, the raised fields all smooth and clean with minimal marks. It is interesting to note that NGC (and some catalogers) continue to attribute this issue erroneously as a restrike due to a misreading of Medina's reference work Las Monedas Obsidionales de Chile (1919), in which he mentions someone (probably him) finding the dies for the 50 centavos and making "just a few" restrikes, whereas the pesos (which are more common) are original to 1865 and the Blockade of Puerto de Caldera in the war against Spain.

Estimate: $200 - $300