Watch List notes:

BRITISH COMMEMORATIVE MEDALS. Elizabeth I, Defeat of the Spanish Armada, "Dangers Averted", Silver Medal, 1589, bust of Elizabeth I to left, her hair and gown adorned with pearls, wearing large ruff collar, rev bay tree upon an island withstands a bolt of lightning, 59mm x 46mm, rose and scrolled suspender (MI 155/133). Attractive and highly decorative late eighteenth-century work, good very fine and scarce.
The reverse is a reference to Britain having withstood the threat of the Spanish Armada. Medallic Illustrations considers all examples of this particular medal to be 18th century in date.

Estimate: £250-300