The Iron Cross 2nd Class (1914 issue) was a medal suspended by a ribbon, through a loop, just like the usual medals are. Sometimes there is a tiny maker's mark stamped on the ribbon loop. Around 5 million Iron Crosses 2nd Class were awarded during WWI.
This is the Bill's model. As George said they goes for around US$ 75.00.
The 1st Class is a pinback decoration, with plain reverse.
Of course, versions for the war against France (1870) and Napoleonic Wars (1813) are much much valuable.
Douglas.
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