Condecoración al Valor Heroico. Instituted in 1926. Three-piece construction, in silvered and gilt bronze with red and white enamels, measuring 45.5 mm (w) x 45 mm (h), intact enamels, scattered gilt wear on the obverse, scratches on the reverse, on its original ribbon with red stripes on either side of a central wide right field indicating third class, near extremely fine.
Footnote: The Medal for Heroic Valour was instituted in 1926 and awarded to military personnel for exceptional acts of heroism at risk of their own life. It may be awarded in both times of war and peace, and comes in three classes: 1st, 2nd and 3rd.

