Watch List notes:

COMMEMORATIVE MEDALS. BRITISH MEDALS. William III, Silver Cliché Portrait Medallion, 1697, by James Roettier, bewigged bust left, wearing armour and ornate lace cravat, legend around, GVLLIELMVS III DG MAG BR FRA ET HIB REX CONSPIRITATIO DETECTA, inner legend, PAX EST COCLVSA, dated on truncation, 86mm x 69mm, in glazed 19th century papier maché frame (MI plates [appendix], CLXXXIII, 6). Very fine but has been creased or split across centre, excessively rare and perhaps only the second recorded example.
The legend clearly identifies the piece as commemorating the failure and detection of the Assassination Plot of 1696 and the Peace of Ryswyck in 1697. For further reading see Helen Farquhar, Portraiture of our Stuart Monarchs ..., part V, BNJ, vol IX, 1913, p.271.

Estimate: £300-500