Watch List notes:

Freemasonary: Germany, Leipzig, the Minerva lodge of the three palms, 25th anniversary, silver medal, 1766 (though minted at Kongsdorff, 1774) Minerva seated to l., with spear and shield, three palms behind, rev. within wreath, NON NISI DIGNO MDCCLXVI, 33mm. (Mers. 2562 (dated 1756 in error); H.Z.C. 119; Peltzer 277), suspension loop, extremely fine, toned
The medal was commissioned in 1774 for distribution to the lodge members.

Estimate: 80 - 120 GBP