Watch List notes:

NICARAGUA: AR medalet (12.37g), 1906, as Flores-L/NM-6, 28mm silver medalet of General J. S. Zelaya, bust of Zelaya with J.S.ZELAYA above and 1906 / PRESIDENTE DE NICARAGUA below // Nicaraguan arms with "TRABAJO * PAZ * PROGRESSO (rosette) 1893-1912 (rosette)" around, with ornate laurel wreath and initial Z hanger, ARGENT on edge, unlisted in Flores, differs from the piece in Flores in metal and in having the hanger, matte finish, About Unc, R, ex Richard Stuart Collection.

Estimate: 60-120 USD