The medal is silver, measures about 55mm diameter and about 5mm thick ... it's heavy!!! The obverse is the Victoria "Young Head" by Wyon, surrounded by the legend VICTORIA D:G: BRITANNIARUM REGINA MDCCCXXXVII. Under the bust is the word PATRONA. The reverse is a "sculpture" of a nude human torso and leg, strategically covered by what appears to be fabric. Both the "Young Head" and the torso sculpture include the artist's name,W WYON S on the sculpture, W.WYON R.A. on the bust. Reverse legend ROYAL ACADEMY INSTITVTED MDCCLXVIII . Under the sculpture is the word STVDY .
The edge is engraved (not during the mint process, apparently) TO MR. A. GATLEY, FOR THE BEST MODEL FROM THE LIFE. DECR. 10TH 1844. And it includes the original case.
If anyone has further information about this piece, I'd sure appreciate it