Watch List notes:

Peru, The American Alliance and the Battle of Callao, bronze medal, 1866, by Harry Emanuel [London], four Amazons representing Argentina, Peru, Ecuador and Chile swear mutual allegiance against Spain, ALIANZA AMERICANA DE MDCCCLXVI on border around, rev. aerial view of the bombardment of Callao by the Spanish fleet, protective armed Godesses of Peru and Chile fly above, 77mm. (BDM II/15), nearly extremely fine, scarce
The 'Alianza Americana' was formed to prevent Spain's ambitions to regain Peru, which were thwarted after Spain's naval bombardment of Callao in 1866. Spain recognised Peruvian independence in 1879.

Estimate: 80 - 120 GBP