Watch List notes:

MEDALS, 中國 - 紀念章, Qing Dynasty清朝, Yuan Shih-Kai 袁世凱: Silver Medal, 1905, Obv "會辦 練兵大臣 袁 獎勵善擊 光緒三十一年", Rev crossed rifles and facing dragons flanked by sheaves of grain, "優等賞牌", bat-shaped suspender at top, 36mm (L&M 981A). Light greyish tone, extremely fine and rare.

Estimate: US$1,500-2,000