Watch List notes:

Spain, Charles IV (1788-1808), gold 4 Escudos, 1792 M-MF, Madrid mint, draped bust right, date below, Latin legend and toothed border surrounding, CAROL. IIII. D. G. HISP. ET IND. R., rev. crowned coat of arms of the House of Bourbon centre dividing denomination 4 S, all within ornate chain of the Order of the Gold Fleece, M and MF below, Latin legend and toothed border surrounding, IN. UTROQ. FELIX. AUSPICE. DEO, edge reeded, 13.48g (Fr. 294; KM 436.1; Cal. 1475). A pleasing example with an orange hue to lower left of reverse, some toning in details, obverse lightly cleaned at some point in its history, very fine.

The Latin legend on the obverse translates as "Charles the Fourth by the Grace of God, King of Spain and India," and on the reverse as "Under the gaze of God, in one world and the other."