Watch List notes:

CHINA – MEDALS, 中國 - 紀念章, Republic 民國, Chang Hsueh-Liang 張學¨}: Copper Medal, ND (1936), presented by Chang to graduating officer-cadets at an officer training school established by him in Xian 西安, 34mm (L&M 965 for type). Extremely fine, toned, scarce in copper.

Estimate: US$800-1,200