Watch List notes:

BULGARIA

Ferdinand I, 1887-1918. Order of Civil Merit (2 medals). Founded by Prince Ferdinand I on August 2nd, 1891. First class set of the second type (after 1900) with Imperial crown, a magnificent set entirely decorated with diamonds, emeralds and rubies and including a badge in gilt silver, gold and enamels, 63.8 x 105.5 mm, and a star in gilt silver, gold and enamels, Ø 97.4 mm, no sash. Total (2). Romanoff 146, 148. AR 88 & 121 g.

EF
An exceptional set of great rarity and beautiful manufacture. The highest ranks of the Order were awarded with diamonds as a particular show of the Sovereign's gratitude. "Star with 265 rose cut diamonds enhanced with emeralds and rubies. Badge with more than 162 rose cut diamonds enhanced with emeralds and rubies."