Auxiliey Cruiser War Badge. Type Juncker.

Tombak/brass based and in a very good, slightly worn condition with all of the gilt plate still present. The globe attached separately with a single rivet. The pin still dark oxidised.
Not marked but a known variation that has been attributed to the company of C.E. Juncker, Berlin. See Weber/Skora, The War Badges of the Kriegsmarine.
Getting difficult to find.