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Knight's Cross of the Order of the Star of Romania, 2nd model from 1932 to 1947. Made from silver and enamel, on the original ribbon. Manufacturer's markings on the ring. Not matching, older case probably for an Italian award.
Very nice condition.
On May 10, 1877, after Romania gained its independence from the Ottoman Empire, the Order of the Star of Romania was founded. The Order's motto was "IN FIDE SALUS" ("In fidelity lies salvation").
The Order was initially limited in all classes to:
Knights (Cavaler): 1,000 civilians and 350 military personnel.
Officer (Ofițer): 500 civilians and 150 military officers.
Commander (Comandor): 200 civilians and 75 military personnel.
Grand Officer (Mare Ofițer): 75 civilians and 25 military personnel.
Grand Cross (Mare Cruce): 35 civilians and 10 military officers.