Medal commemorating the Spanish wreck recovered, 1687. Obverse: Busts conjoined (right) of James II and Mary. He, laureate, hair long, descending in several ringlets in front, wears scale armour and mantle; she with pearls in her hair and one lovelock, is in mantle. Legend: 'IACOBVS . II . ET . MARIA . D . G . MAG . BRI . FRAN . ET . HIB . REX . ET . REGINA.' Reverse: A ship, the boats of which are engaged in fishing up treasure from a wreck. Legend: 'SEMPER TIBI PENDEAT HAMUS .' (Always let your hook be hanging.) Exergue: 'NAVFRAGA REPERTA 1687' (Wreck recovered).

The medal refers to the salvage of treasure lost with a Spanish ship off Hispaniola, in the West Indies. The attempt was begun by Captain William Phipps, with funding from Charles II. As the project was initially unsuccessful, James II refused to finance his activities, but Christopher, Duke of Albemarle and some friends advanced the necessary money. When funds were nearly exhausted, Phipps finally succeeded and returned to England with £300,000 worth of silver. These medals, struck by Bower, were presented to the ship’s officers and the promoters of the venture. The king himself gave them to friends and favourites. The inscription encourages perseverance.