Hungary, Kingdom. An Air Force Bullion Cap Badge c.1940
In silvered and gold-coloured bullion wire, in various textures, touches of red and green embroidery in the base of the crown, red threading giving definition to the eagle's eye, neck, mouth and talons, the wings incorporating twenty silvered sequins, two of which are chipped, on a black wool base, faded stamp on the white paper backer, measuring 100 mm (w) x 48 mm (h), near extremely fine.

