Bulgaria, Kingdom. A National Order For Military Merit, Ii Class Star With War Decoration, C.1915

(Национален орден за военни заслуги). Instituted in 1900. Multi-piece construction, insignia in bronze gilt with red, white and green enamels, mounted to a four-pointed star base, each star point with three emanating rays, with six smaller emanating rays between each of the star points, marked "48" on the underside of the pin, measuring 96.2 mm (w) x 96.5 mm (h), vertical pinback, residue evident in the white enamels on the centrepiece ring at 6 o'clock, along with a scratch on the arm at 12 o'clock, otherwise the enamels are intact, near extremely fine.

Footnote: The National Order for Military Merit was instituted on May 18, 1900 by Prince Ferdinand I and awarded to military officers for bravery or meritorious service. It was originally awarded in six grades, the Grand Cross being added in 1933. The War Decoration was authorized in 1916, and the use of a Bravery Ribbon in 1912.