Watch List notes:

Administration Offered to William of Orange, AR Medal, 1689, by J. Smeltzing, IACOBUS II BRITAN: REX FUGITIV•, draped bust left, rev. PRO GLANDIBVS AVREA POMA, an orange tree flourishing beside an oak tree broken off at its trunk, POST FUGAM REGIS DELATA REGNI ADMINISTRATIO PRINCIPI AURIA: 3 JAN: 1689•, PLAIN EDGE, 50mm, 48.72g (Eimer 305; MI 651/6; van Loon III, 376; Woolf 8:1), lightly nailmarked and with some pitted marks to fields, otherwise the central devices, in particular of the reverse, pleasingly struck up, extremely fine and very rare, the first to appear since 2008 according to CoinArchives.
The medal commemorates the offer of administration which was made to William of Orange by the House of Lords in 1689. It also makes reference to James' flight to France. This is cleverly alluded to in the styling of his hair into a wig-bag; the manner in which it would have been worn for travel.
Estimate: £1500 - £2000