Ecuador, Republic. A National Order of Merit, I Class Grand Cross, c.1940
(Orden al Mérito Nacional). Instituted in 1821. Type II (1932-Date). Four-piece construction, in silver gilt with red and green enamels, unmarked, measuring 55.8 mm (w) x 86 mm (h) inclusive of its wreath and integral ring suspension, chipping evident in the red enamels on the arms at 12 o'clock and 4 o'clock, accompanied by a full-length modern sash that incorporates a decorative moiré pattern, with the piping incorrect, better than fine.
Footnote: The National Order of Merit was instituted on October 8, 1821 and is awarded for extraordinary achievements rendered to the nation, civil or military, in six grades: Collar, Grand Cross, Grand Officer, Commander, Officer and Knight.