DEUTSCHEN TRUPPEN IN PARIS means GERMAN TROOPS IN PARIS and NACH AUSSEN ENTSCHLOSSEN NACH INNEN GESCHLOSSEN means RESOLVED TO THE OUTSIDE INSIDE CLOSED. But it did not exactly happen that way. This medallion was issued by the German government in anticipation of a successful march into Paris during WWI. They were to be sold in the streets of Paris after the entry. But the Battle of the Marne (5-12 September 1914, along the Marne river) resulted in an Allied victory against the German Army and effectively ended the month long German offensive that opened the war and reached the outskirts of Paris.
According to TantalusCoins.com, an online coin registry, very few of these medals went beyond official hands. The one in Tantalus' picture (upper left) was kept secretly by the original German owner, and sold to a French officer in summer of 1921 for 800 francs. That means these are rare medals with approximate values:
worn: $100 US dollars approximate catalog value
average circulated: $150
well preserved: $250
fully uncirculated: $500
You can find these on the Internet from time to time (see circulated example, to the right), so the value will depend on the availability of an interested buyer. However, with any valuable piece of numismatics, you must be on the lookout for counterfeits. The image below shows a genuine medal next to one that looks highly suspect. Just a cursory study will reveal many significant differences in pattern. Never buy or sell expensive coins with someone you do not trust.
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