Luftwaffe pilot badge, 2 pc construction.
The Pilot/Observer Badge (Flugzeugführer- und Beobachterabzeichen) was a World War II German military decoration awarded to Luftwaffe service personnel who had already been awarded the Pilot’s Badge and Observer Badge. It was instituted on 26 March 1936 by the Commander in Chief of the Luftwaffe Hermann Göring. It was worn on the lower part of the left breast pocket of the service tunic, underneath the Iron Cross 1st Class if awarded. It was to replace the older 1933 Aircrew Badge.