Watch List notes:

CHINA – MEDALS, 中國 - 紀念章, Republic 民國, Li Guo-Jun 李國筠: Silver Merit Medal, 1914-15, hand-engraved, Obv "獎" at centre, surrounded by waves, "李唔" in frame below, Rev "廣東巡按使李獎給", 40mm, with swivel suspension bar and ribbon. Extremely fine.
Li Guo-Jun 李國筠 was the grandnephew of Li Hung-Chang 李鴻章姪孫

Estimate: US$400-500