Watch List notes:

PERU. San Marcos Academy Silver Medal, 1754. PCGS AU-50.
Betts-398; cf. Fonrobert-8907. Obverse: Garnished coat-of-arms, bearing star, S M, and crown; cherub above; Reverse: Large A. Edge: Ornamental reeding. Lightly toned and highly pleasing, this RARE type presents some hints of brilliance emanating from the protected areas.

The Academy of San Marcos, now the National University of San Marcos, is the oldest officially established and recognized university in the New World, having been founded by royal decree 12 May 1551. This medal comes in two varieties, one with an "R" on the reverse and this type with an "A." Based upon auction and collection records, the A variety would be the rarer of the two, though it is unknown what the meaning of these letter are. One possibility is that they were given to the officers of the college upon their appointment, specifically the office of Rector and Vice-Rector of Academia. Originally, the university was run by the members of the clergy, but was later turned into a secular institution.

Estimate: $700 - $1000