Mexico
Charles & Johanna 1 Real ND (1538-40) Mo-P VG-8 NGC, Mexico City mint, KM7, Cal-153. Early style without the waves with Assayer "P" (possibly Pedro de Espina), who was active immediately after Rincon, thus among the very early issues of the Mexico City mint. Quite rare, and a choice unflawed specimen (note the almost full weight at 3.2 grams) for the designation.
Estimate: 500-700 USD