Germany, Wehrmacht. A Panzer Assault Badge, Silver Grade, By Hermann Aurich Auction this may be explained by

this may be explained by the desire of France to avenge the humiliation of her defeat in the Franco-Prussian War of 1870 (and subsequent loss of Alsace and Lorraine)

decorated top edge with beaded cut silver

most notably in Eastern Bosnia

measuring 100 mm (w) x 144 mm (h)

instead it has three holes

Germany, Wehrmacht. A Panzer Assault Badge, Silver Grade, By Hermann Aurich Auction this may be explained by(Panzerkampfabzeichen in Silber). Constructed of silvered zink, the obverse consisting of an oval oak leaf wreath, joined together at the bottom by ribbon, topped by a Heer style German national eagle clutching a mobile swastika, with a central Panzer IV rolling over grassy terrain, with its left tread extending beyond the edge of the wreath, the reverse with a crimped barrel hinge and vertical pinback meeting a round wire catch, maker marked with the