Watch List notes:

ART MEDALS, Société des Amis de la Médaille Française, 1899-1920, Conservation des Forêts (Forest Conservation), Bronze Medal, 1904, by Henry Cros, nude dryad, TERRAR-VM DECVS, rev centaur and dryad, SYLVAE SERVANDAE, 60mm (Maier 25). Extremely fine.
the medal is numbered 176 from an SAMF issue of just 220

Estimate: £300-350