Watch List notes:

Mexico City, Mexico, cob 4 reales, Philip II assayer O below mintmark oM to left, denomination not visible to right. S-M11; KM-36; Cal-505. 12.71 grams. Good full shield with full oMO, full but lightly pitted cross-lions-castles, nicely toned, edge-split. With generic (small) certificate from the salvor.Recovered from: Santiago, sunk in 1585 off Mozambique, east of Africa.

Estimate: $250 - $375