Watch List notes:

BADEN: AR medal, 1846, 38mm, DER VEREIN ZUR BELOHNUNG TREUER DIENSTBOTEN (Society for rewarding of faithful servants) in outer circle, CARLSRUHE / I. SIRACH 41.15.16 in inner circle, bee at center // NACH 15 JAHREN / ERTHEILT ZUM 2ten MAL DER PREIS AN (after 15 years of service granted for the 2nd time) around wreath, awarded to Phil Werner 1846, with parts of reverse legend hand-engraved, prooflike fields, UNC.

Estimate: 100-150 USD