Watch List notes:

CARLOS IV (1788-1808). Proclamation in Valladolid de Michoacan, Mexico. (Ae. 42.88g/45mm). 1791. Engraver: GA Gil. (Vives 172; RAH 435 metal variation). Obv: Bust of Carlos IV with jacket, jabot shirt, sash, mantle and collars of the fleece and Holy Spirit, around legend: CARLOS IIII KING OF SPAIN AND OF THE YNDIAS. Rev: Oval Escudo of arms crowned with three busts on a shelf and exterior decoration made up of cardboard and two palms, around legend: PROCLAIMED IN THE CITY OF VALLADOLID DE MICHOACAN/BY HIS ALFEREZ RD JOSE, in exergue: 1791. Good Very Fine. Slight iridescent tone. Limited.