This is an insignia of the Order of the Star of Romania, established in AD 1877 by Carol I, the founding monarch of the Kingdom of Romania. Beginning in AD 1885, the order was further differentiated into a civil division and a military division distinguished by crossed swords.
The Order of the Star of Romania exists in three distinct versions, corresponding to different historical periods: 1877–1932, 1932–1947, and a post-1998 revival. This miniature belongs to the 1877–1932 version, which comprised a total of five hierarchical classes.
The decoration features a gold-trimmed blue cross with radiating rays emanating from behind, surmounted by a crown used for suspension. At its centre is a red medallion bordered in blue and encircled by a laurel wreath. The obverse bears the coat of arms of the Kingdom of Romania—a heraldic eagle clutching a cross in its beak, a symbol derived from the historical Principality of Wallachia. Along the upper portion of the blue border is the Latin motto “IN FIDE SALUS,” meaning “Salvation is in faith,” while the lower portion displays three five-pointed stars. The reverse of the medallion is red and inscribed with the royal monogram of Carol I—”AJI”—beneath a crown, signifying “Alteța Sa, Carol I” (His Highness, Carol I).
Borna Barac, Reference Catalogue Orders Medals and Decorations of the World : instituted until 1945 : Part IV Gold Book P-Z (Craotia:OBOL d.o.o. Zagreb, 2016)