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Thank you for looking! ???? stands for Leningrad City Committee for Physical Training. It conducted fencing competitions, and this is one of their prize badges. I was able to receive the following translation. This is not 100% clear because this is where they said something like “1st Prize”, “2nd Prize”, etc. Is not a short version of anything familiar. My best guest is, it stands for “team”, which would then mean the first prize in the team event. ?????????? – Bayonet Fencing. 59th Infantry Regiment. Usually of the instructor. The round stamp at the bottom is the mark of this whole competition system. The oval stamp is the state mark certifying this object is made of silver of specific proof. The square stamp F. Is the initials of the jeweler who made this, G. Width (widest point): 27.93 mm. Height (not including suspension): 37.15 mm. Weight: 12.927 g. Reach out to me with any and all questions you have. All sales are final. Condition and authentication are “as seen”.