Watch List notes:

Popayan/Cali, Colombia, gilt silver 4 reales proclamation medal, 1811, liberation by Baraya, corded edge, NGC MS 63, finest and only example in NGC census.Restrepo-p. 121; Herrera-unl; Medina-unl; Fonrobert-8219.10.28 grams; 32mm.Choice grade with fully detailed strike, nearly full gold plating remaining on obverse only (reverse just nicely toned silver), a rare muling of two colonial reverse designs (Cali and Popayan) with legends changed to give tribute to the (temporary) liberator of the region, Don Antonio Baraya, diameter of a 4R but thinner and lower in weight.Pedigreed to the Nueva Granada collection (stated on label).
($500-750)