Watch List notes:

Carol I 1905 AE Gilt Bronze Medallion "Romanian Army Manouevres" in 1905 by Carniol Fiul, 65 mm . Obv. Bust three-quarters l. of Carol Ist, laurel branches, "CAROL I. REGE AL ROMANIEI". Rv. The goddess Pallas Athena seated on a pile of standards, weapons, in the r. field royal coat-of-arms, "ARMATEI ROMÂNE LA MANEVRELE REGALE DIN 1905". 65 mm diameter, particularly nice example, uncirculated with matt reliefs and P/L fields to centres, a striking and thus RARE medal.