Romania Officer's Badge of the Naval School 20 - th Century

vgAg 54x42mm; Enameled; with hallmarks; manufactured by Karnet & Kysely; badge awarded to the officers of the "Naval School" in Constanța, where future naval officers were trained, both from the Navy and from the Merchant Navy; original name: Insigna de ofițer al Școlii Navale; Condition-I