In silver.
Obverse
表彰 - Commendation
Reverse
勅諭下賜五十年記念 - 50th Anniversary of [Emperor Meiji] Rescript to Soldiers and Sailors (i.e. the badge was issued in 1932 https://en.wikipedia.org/wiki/Imperial_Rescript_to_Soldiers_and_Sailors)
帝国在郷軍人會 - Imperial Military Reservist Association
荏原郡聯合分會 - Ebara District Branch of Association
Marked 純銀 - pure silver.
Original case.
Obverse
表彰 - Commendation
Reverse
勅諭下賜五十年記念 - 50th Anniversary of [Emperor Meiji] Rescript to Soldiers and Sailors (i.e. the badge was issued in 1932 https://en.wikipedia.org/wiki/Imperial_Rescript_to_Soldiers_and_Sailors)
帝国在郷軍人會 - Imperial Military Reservist Association
荏原郡聯合分會 - Ebara District Branch of Association
Marked 純銀 - pure silver.
Original case.