Watch List notes:

HAMBURG: AR medal (33.24g), 1902, 39mm silver award medal for the German Navy Club, hand-engraved from planed-off previous item, flag and anchor design within roped circle with DEUTSCHER-MARINE-VEREIN VAN 1877 HAMBURG around // DEM / KAMERADEN / A.hoffmann (Gothic script) / FÜR 25 JÄHRIGE / MITGLIEDSCHAFT / 1877-1902 within oak and laurel wreath, with added loop for suspension, hairlined, plain edge, EF.

Estimate: 150-200 USD