1st variation made by Hattori workshop in pure silver.
High quality hot enamel. Marked 純銀 - pure silver.
Reverse reads
有功章 - Merit Badge
海軍協會 - Navy League
Original case.
紅色有功章 - Red Merit Badge
服部時計店 謹製 - made by Hattori Watch Shop...
akiba medals tokyo
badge made by akiba
badge made by taishodo
badgesofnavyleague
imperial japan navyleague
japanese badge
redmeritbadgesofnavyleague
taishodo workshop
海軍協会章
海軍協會章
海軍協會紅色有功章