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Here we have a 3rd Variation Navy Minesweeper Badge by Steinhauer & Luck (Ludenscheid)! It is made of a die struck, zinc base that has been gold gilded, silver washed and blackened. The obverse depicts an exploded mine coming out of the water, this is below a Kriegsmarine eagle (with out-stretched wings, clutching a swastika within its talons), which is surrounded by an oak leaf and acorn wreath that is tied together on the bottom. The reverse of the badge shows the correct; soldered steel sheet metal hinge, soldered tombak round plate flat wire catch and steel pin. The details throughout are very nice. It retains reminisce of gold, silver and blackening. Minor oxidization. See Vol. 1 page 343 of Weber & Skora's "The Kriegsmarine Awards" book. A fine piece.
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