Watch List notes:

PHILIPPINES. Philippines - Peru. 8 Reales, ND (1834-37). Manila Mint. Isabel II. PCGS VF-35, Countermark: EF Details.
KM-138.2; Basso-56; PNM#6-182; PNM#16-382; PNM#21-VIII-174; Cacho-Unlisted; Gil-5-4-3-III. Issued by decree of 20 December 1834 and suppressed 31 March 1837 (by decree of 1 February 1836). Countermark: Type VI; crowned Y.II. within circular incuse. Applied to the obverse of a 1835-LIMA MT Peru Republic 8 Reales (KM-138.2). The countermark is boldly applied and clear on a decently preserved host displaying rich gray patina with minor earthen deposits amongst the devices. This wholly original looking example is pleasing to the eye.

This common host exhibits a characteristic that is found on few examples throughout the series, an incuse mirror image of another countermark. Between the F.7.0 and Y.II. countermarks, one can in theory place some kind of semblance of order to the punches. Some examples bear nearly full incuse images, while others only exhibit partials. Possibly the best description of what one would call this would be an "Anvil Clash". Similar in nature to clashed dies, where dies strike each other without a planchet in between them leaving impressions on each other. Now in the instance of incuse images of the countermarks, this was caused by one of the mint workers hitting the anvil without a coin leaving a fully impressed image on said anvil. This can be traced throughout the series with multiple F.7.0 and Y.II. varieties being observed on multiple different coins. An interesting facet from this complex series that is sure to add depth to the next collection it enters.

Estimate: $900 - $1200