Watch List notes:

GERMANY, Sachsen-Ernestinische Linie (Kurfürstentum und Herzogtum). Johann Friedrich I der Großmütige (the Magnanimous). 1532-1547. Cast AR Medal (46mm, 24.97 g, 2h). Celebrating his 34th Birthday. After Hans Reinach. Dated 1535 (in Roman numerals, though a later cast). IOANNS FRIDERICVS ELECTOR DVX SAXONIE FIERI FECIT ETATIS SVÆ 32, mantled bust facing slightly right, holding shield and sword over shoulder; 34 in right field / SPES MEA IN DEO EST ANNO NOSTRI SALVATORIS M D X X X V, coat-of-arms surmounted by three elaborately plumed helmets. Cf. Kress 605 (for original). VF, some roughness. With attached contemporary loupe.

From the J. Eric Engstrom Collection, purchased from World Art Medals.

Apparently a later copy of the 1535 medal, issued to celebrate the elector's 32nd birthday, with the number 34 added, for his birthday celebration two years later.