Schnelboatabzeichen 1st model real or fake?

[pjo]

Hey everyone,

My dad recently got hold of a large collection of german w2 items, among them this schnelboatabzeichen, rather i cannot tell it to be fake or real.
What do u guys think of this one?

[Norm F]

Hi pjo,

I'm afraid it's on old reproduction. Reverse hardware setup is unlike any known variant, and there's a visible casting seam on the edge.

Best regards,
---Norm