Romania, Kingdom. A Military Academy Graduate Badge, I Class Gold Grade, c.1935
Insignia in bronze gilt with red, white, blue and black enamels, affixed to a bronze gilt base, bearing the monogram of King Carol II (reign: 1930-1940), measuring 35 mm (w) x 65.5 mm (h), vertical pinback, intact enamels, very light contact, near extremely fine.

