Watch List notes:

Iquique, Peru, small silver medal, 1871, Iquique Railway / President Jose Balta, NGC MS 64. 23mm Steam locomotive heading right above INAUGOROSE / EL 23 DE JULIO / 1871 within legend FERRO-CARIL DE IQUIQUE A LA NORTA on obverse, reverse with SIENDO PRESIDENTE DE LA REPUBLICA within legend EL EXMO SOR CORNL D. JOSE BALTA. Attractively toned around details with underlying luster, no marks or wear. Note: The NGC label says "TOKEN" but in the absence of any denomination or evidence of use as a token, we consider this a commemorative medal instead. NGC #4912353-001.
($150-225)