Luftwaffe Pilot Badge. Maker C.E. Juncker Berlin SW (Silver 800).

Apart from the swadtika being cleanly replaced(!), in a very good, slightly worn condition.
Marked on the reverse with the maker „C.E. Juncker Berlin SW“ and several times with the silver content hallmark“800″. The hook with a pon securing device.
Such badges are the subject of much discussion. One opinion is that these were cast by a jeweller or company from original Jucker made badges for presentation to meritorious pilots.