Good pre-owned condition, with some light wear typical of storage and prior use – there may be a few small scuffs, scratches, spots, nicks, tarnish, etc, please see photos for full details and close-ups.  The pin mechanism works, but is sticky.  

This piece comes from the estate of fencing champion Charles Schmitter, who had a large collection of fencing related jewelry. He was a key member of the Detroit Fencing Club and eventually went on to be fencing coach at Michigan State University, an Olympic fencing coach, President of the Olympic Fencing Committee, an Olympic Committee member, and a US Fencing Association Hall of Fame member, as well as achieving various other honors and positions.