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Second Pattern Kriegsmarine S Boat Badge by AS

A quite outstanding example of a mid-war second pattern S Boat badge by the preferred manufactures AS (Adolf Scholze), their badges being of a better quality than Schwerin.
A zinc badge, the wreath and waterline of the boat are finished in a gold wash with a silver wash to the hull. A chemical oxidizer was used to darken the waves.
Unlike later badges this example retains the cut out flag but with a solid Swastika.
The reverse of the badge is flat with the AS logo and has a horizontal attachment pin and ball mount, in itself a scarcity as most badges of this period featured the better known flat attachment pin.
Overall condition is very good + with some light wear to the finish at high points.
It would be very difficult to upgrade this beautiful example