1809 (Post-1861) James Madison Indian Peace Medal. Large Size. Bronze. 76 mm. Julian IP-5. First Reverse. MS-62 BN (NGC).Lovely olive and autumn-brown patina with a blush of lighter color at the lower left reverse border, around the letters FRIEN in FRIENDSHIP. Both sides are sharply struck with an inviting satin to modestly semi-reflective finish. Wispy handling marks and a lone spot in the left obverse field at the letters AM in JAMES preclude a Choice Mint State rating. According to Julian, dies for this medal were not finished until 1814, but the style and specifically, the reverse die, would remain in use into the 1840s when it finally was so worn that replacement was necessary. The replacement die was used for restrikes after about 1846, so this piece struck by the original reverse die with pointed-top As was made between 1814 and 1846. Minor die rust is also evident on the reverse, especially in the fields at the left and right borders and immediately below the clasped hands.