Martinique
French Colony Moco ND (1770-1772), cf KM20, VF30 PCGS. A 4.15 gram heart shaped cut out from a pillar 8 Reales, corresponding to the Type IV issue placed ca. 1770-1772. Recent research places the corresponding holey dollars as from Gibraltar instead of Martinique. Since most of the cut out punches were melted since they did not have legal tender status, surviving specimens must be rare.
Estimate: 1200-1400 USD