Hello Bongo, and welcome to the circus.
Yes, i have laid an eye or two on this badge at Phillip Militaria for a few years now, and always come back to it for a long hard gander.
The pin plate you are referring too, as can be seen on the Herman Historica one, is not seen on this one, BUT, even the one at HH was soldered down the length of the pin as this one is.
The only thing i can tell you, is that this one at PM is definitely not made using the same obverse die as the one at HH was. The letter T is the dead giveaway, overlapping on one version and not on the other, apart from many other small faults.
So where are we? nobody knows much about them or has a "collection" of them, so is the Herman Historica one genuine? well they have sold lots of rubbish before, and in fact at every auction of theirs you will find repro and fakes being sold as genuine, so the name Herman Historica is no guarantee that the item is an original. Although i must admit that the one at HH does look how i would personally expect a badge like this to look - construction-material-silverwash-usage-patina etc.... there is something about the one you posted, at Phillip Militaria, that i just dont like. Many others too i guess, hence it being for sale, a good few hundred under value, and nobody buying it yet! BUT, i dont have it in hand, and dont know who made these foreign awards, so it is possible that there was more than 1 maker, hence different dies, and maybe this one has just lost all it`s silverwash? who knows?
But, my gut feeling has always steered me away from buying this one... €600.- is a lot of lolly to shell out on something that is obscure and hard to research as these are imho.
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