(Flugzeugführer- und Beobachterabzeichen, Stoffausführung für Offiziere). A rare example of a cloth and bullion wire Luftwaffe Officer’s Combined Pilot and Observer Badge, constructed of a padded dark grey wool base, the obverse bearing an oval laurel and oak leaf wreath, overlaid by a swooping Luftwaffe eagle clutching a mobile swastika, carefully executed in hand-embroidered gold bullion and silver aluminum wire, respectively, the reverse retaining a black cotton/rayon-blended liner and demonstrating silver-grey and golden-yellow guide threading, unmarked, measuring 70 mm (w) x 55 mm (h), with minor material fatigue visible to the wire, a scarce example in extremely fine condition.