Hi. All I can say is, its a "Vereinsorden" (decoration for a club). "Für 25 Jahre Treue im Verein" means "For 25 years loyalty in the club". Made by "Deschler & Sohn" in München (Munich).
I agree. Probably made for one of the many veterans organizations
Live to ride -- Ride to live
I was addicted to the "Hokey-Pokey" but I've turned