Romania, Kingdom. A Military Academy Graduate Badge, II Class Silver Grade, c.1940
Two-piece construction, base in silvered bronze, illustrating a stylized eagle, its talons gripping an interlocking "PP", the crowned cypher of Michael I (reigns: 1927-1930 and 1940-1947) above, the crowned Romanian coat-of-arms in red, blue, yellow, white and black enamels at the lower left, measuring 34.7 mm (w) x 65.5 mm (h), vertical pinback, intact enamels, scattered silvering wear, near extremely fine.

