Bulgaria, Kingdom. A Royal Military Badge for Excellence; Tsar Boris III, c.1920

Tsar Boris III - (1918-1943) In bronze gilt, cypher of Tsar Boris III overlaying a starburst, Royal crown above and Royal Military ribbon banner below, open-ended laurel wreath base, 45.7 mm x 57.8 mm, original red cloth accent behind the voided areas, missing its vertical pinback, contact marks, surface and gilt wear, near very fine.