Honour Badge of the “Fund for our Cavalry”

In Gold, a horseshoe with the letters “фНК” on top (Фонд Нашата конница Fund for Our Cavalry) and an open book with laurel wreath below; the centre, with a flying eagle holding a sabre in its claws, on white, green-red enameld ground; the reverse with silver counter-plate, this, bearing the maker’s mark of Stöger, Wien VII.; in the original , ivory-white case of issue with fitted inner compartment.
An extremely rare, perhaps unique badge, belonged to the King as patron of the fund; excellent condition. I RR!