Watch List notes:

GERMANY, German Empire. The Aftermath of Verdun. Cast Æ Medal (58.5mm, 71.78 g, 12h). By Karl Goetz. Dated 1917. VERDVN 1917, skeleton, wearing army cap and smoking pipe (Great Britain), standing left, holding bound and dejected Marianne (France) and kneeing her forward / Large bleeding heart, wearing Liberty cap and spectacles, set on lighted torch and olive branch and pierced by stickpin decorated with the head of French Prime Minister Georges Clemenceau; VND • RVHIG/FLIESST • DER/RHEIN (And calmly flows thr Rhein)in three lines below; K G flanking. Kienast 196. Brown surfaces, slightly worn at high points. As made.

From the PS Collection of Medals of the Great War. Ex Goldberg 75 (24 September 2013), lot 4253.