The medallion's obverse bears portrait of Martin Birnbaum, facing left. Around bottom, · MARTIN · BIRNBAUM ·
The reverse bears violin, three palm trees, a female torso, books, and a stylized wave pattern. Signed and dated around top, · FROM · PAUL · M · 1939 ·
Martin Birnbaum (1878-1970) was the manager of the American branch of the Berlin Photographic Company in New York City from 1910-1916, and a longtime partner in the art firm Scott and Fowles. He was one of Manship's first benefactors after the artist returned from the American Academy in Rome and organized a very successful exhibition for Manship's sculpture in 1916.
This looped medallion appears to be an early cast. Murtha's reference shows the medallion without loop.
The medallion measures 100.7mm in diameter (111.2mm with loop) and was cast in bronze. It is not known how many medallions were produced.
References: Murtha 397