The warring countries in the First World War had many ways of raising funds for their cause. In Germany there was a tradition of exchanging gold for iron jewellery since the Napoleonic wars. The motto “I gave gold for iron” was used as an honorary sign, a sign of patriotism. In 1914 the firm Klein & Quenzer sold this watchchain for women. (Banknotes were not accepted.) If you paid 5 RM in gold you also got a medal. Both chain and medal were designed by Hermann Hoseus (1875-1958).
Wilhelmina von Hallwyl asked Eduard Kahlert (1850-1931), her trusted antique dealer in Germany, to buy two chains and two medals for her when she was on a trip through Germany in October 1916.