Watch List notes:

GERMANY, German Empire. Nikola I Abandons Montenegro. Cast FE Medal (57mm, 12h). By Karl Goetz. Dated 13 January 1916. DIE FRIEDENSTAVBE ERST ABGESANTD (The Dove of Peace first dispatched), bust of Nikola I right; below, dove, carrying document inscribed S M/FRANZ/IOSE in three lines; NIKITA behind bust; K · G · below wing / VERLIESS DER RABE DRAVF SEIN LAND (Thereafter, the raven abandoned its land), raven, carrying crown in talons, flying to right above mountains; below, hand drawing sword from hilt; 13./JANVAR/1916 in three lines below. Kienast 173. In NGC encapsulation 3591790-013, graded MS 63.

From the PS Collection of Medals of the Great War.