(Luftwaffe Ring). A unique Luftwaffe commemorative ring, constructed of silvered bronze with enamels, the exterior bearing a rectangular enameled insignia consisting of a first pattern droop-tail Luftwaffe eagle clutching a mobile swastika, overlaying a red background, flanked on each side by raised oak leaves, unmarked, measuring 19.30 mm in interior diameter, accompanied by its period original presentation case, constructed of light card stock with a marbled exterior, the lid bearing a maker’s mark of “FRANZ BEINHAUER, WIEN”, the interior with a slotted velvet bed, measuring 35 mm (w) x 25 mm (l) x 30 mm (h), with some cracking and loss of finish evident to the enamels and metal, respectively, in addition to fatigue of the case, the colour scheme and design of the eagle indicating a possible connection to the Condor Legion, in overall very fine condition.