These are German WW1 veteran medals (Kyffhäuser medals). This medal was awarded to those soldiers that survived the trenches.
The obverse features a tattered standard and the words shining arms, pure honour. It also has the years 1914-1918 left of the flag.
The reverse has some words from then Field Marshall, later President Hindenburg.
It's a Imperial German WWI Kyffhauserbund (German Nation Soldier's Association) Medal. The smaller one is probably for a set of minatures, or maybe a watch fob.
Edit: Ingrid beat me to it!
'I do not think we can hope for any better thing now.
We shall stick it out to the end, but we are getting weaker of course, and the end cannot be far.
It seems a pity, but I do not think I can write more. R. SCOTT.
Last Entry - For God's sake look after our people.'
In memory of Capt. Robert Falcon Scott, Edward Wilson, Henry Bowers, Lawrence Oates and Edgar Evans. South Pole Expedition, 30th March 1912.