Looks old and used, but these and other rings are so heavily faked that it is very hard to tell right from wrong, millions are circling around IMO.
Yes, provenance or found in a group of stuff might score you a winner.
I personally wouldn't pay much for rings, it's a mine field, even the so-called ground dug ones.
Problem is that there is no database or other good info about these, you can't compare nor draw conclussions, real ring experts are hard to be found etc.
One can buy one for fun, but I wouldn't buy one for investment.
The pattern was period mass produced by the Frey company, Pforzheim. There are different styles of luft badges.
Usuaslly marked "835", "F*" and a latin "Ln" in an half circle.
Good fakes of this patterns are around, but this one has for me good chances to be a good one.
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