Hungary, Kingdom. A Boat Leader's Badge c.1922

Three-piece construction, in silvered and gilt bronze with green enamels, illustrating an anchor resting upon an open-ended wreath of oak leaves, surmounted by the Royal Hungarian crown, measuring 48.8 mm (w) x 62.3 mm (h), intact clip and enamels, the crown slightly loose versus the oval enamelled base, extremely fine.