Watch List notes:

JAPAN: Meiji, 1868-1912, medal (131.3g), ND (ca. 1911), Zeno-190896, 64mm, base metal or silvered bronze, undated, likely produced in 1911 for The 1st Liquor Products Appraisal Committee, brewer on obverse standing with sake bottle in one hand, rice or grains in the other, rising sun and Torii gates behind // inscription "The 1st Sake Products Evaluation (Committee)" above, "First Grade Award" within wreath, "Brewing Association, Kyoto Branch" below, some dark circular staining on the obverse, uneven coloration on the reverse, but design details are crisp with little wear, VF.

Estimate: 40-60 USD