Spain, Kingdom. An Order of Naval Merit, Grand Cross (White Distinction) visually-hidden the reverse medallion depicts the

the reverse medallion depicts the handpainted Oldenburg coat of arms

the reverse with a similar red enameled central medallion - Type I with “1912” in small text on the centerpiece

While on duty

in unissued and near mint condition

typical early post 1945 period wings

Spain, Kingdom. An Order of Naval Merit, Grand Cross (White Distinction) visually-hidden the reverse medallion depicts theInstituted August 3, 1866. In silver gilt, a white enamelled cross pattee with superimposed blue enamelled anchor on the obverse, the reverse is plain white enamels, surmounted by a royal crown, worn on a full length sash, measures 31. 4 mm (w) x 58. 4 mm (h inclusive of crown), enamels intact, exhibiting gilt wear, in very fine condition.