Two-piece construction, silver and blue enamelled Bavarian lion insignia, on a bronze gilt base with red and black enamels, the base composed of a shield surmounted by a crown, the shield inscribed "TRAIN VER= EINIGG. MÜNCHEN", maker marked "GG. LINDNER MÜNCHEN" on the reverse, with pinback, 27.8 mm x 43.5 mm, attached to a 16.5 mm x 21.7 mm silver gilt and black enamelled hanger via dual chains, the hanger inscribed with a large "X" (10) flanked by the dates "1900" and "1910" and backed by oak leaves, lightly soiled original blue and white ribbons with metal tassels, light contact, near extremely fine.