Watch List notes:

Quito, Ecuador (Potosi, Bolivia), oval silver medal, no date (ca. 1825), Bolivar / to the Liberators of Quito (Battle of Pichincha, May 22, 1822), rare, NGC UNC details / obv tooled. Fonrobert-8330. 41x35mm. Obverse with uniformed Bolivar standing atop a scaffolding of cannons and flags above POTOSI. with the Cerro de Potosi and radiant sun in background, legend PREMIO ALA / APLICATION; reverse with A LOS / LIBERTA / DORES / DE QUITO inside cornucopiae and flags below a sunface with caduceus at bottom, all within decorated border. A muling of issues for Ayacucho (Potosi) and Pichincha (Quito), listed in Fonrobert but missing in Derman (Cayon auction of December 2007) and no other examples seen in recent auctions. Brilliant white with non-toned luster, some hairlines on fields but also with a series of scratches (called "tooling" by NGC who also call this an "application award" due to a strict translation of the wording, in actuality more of a military medal for merit) below the caduceus.

Estimate: $2000 - $3000