Watch List notes:

MEDALS, 中國 - 紀念章, Germany 德國: Rosette Badge of the VEREIN EHEMALIGER SEESOLDATEN (Veteran Colonial Marines Association), Silvered Metal Badge, Imperial eagle with "20" at centre in a wreath marking the 20th anniversary of the association in 1905, mounted on a silk rosette in German Imperial colours, pin on reverse, 52mm. Extremely fine, toned.
A veterans association for marines who served in the German colonies including Kiau Chau 膠州 (China)

Estimate: US$100-150