I really want to like this piece...but the RZM mark prevents me from doing that. The RZM license codes came online slowly, over a period of years in the early 1930s, but by the time the fully-developed codes were in usage, the RZM logo was also a standard requirement. The absence of the RZM logo on this piece is very concerning to me. The holder of RZM license M1/34 was the firm of Karl Wurster of Markneukirchen...
It's also possible the piece had had an RZM metal disc below the center tang. Usually the pieces with the disc were unmarked on the tangs, but it's not impossible. The reverse fabric appears likely to have been replaced--otherwise, I don't see anything wrong with the gorget--although without an examination in hand it's difficult to say.
Erich
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