This medal is made of something like porcelain, then hand-painted with gold leaf. It is from the winter sports games in 1922 in Germany, an event that came before the winter Olympics were instituted officially.

The medal is about the size of a US half dollar, quite light and I'm sorry I cannot tell you exactly what the composition is, but it reminds me a great deal of early notgeld and other porcelain or porcelain-like medals.

Rare to be sure and would be a welcom addition to a collection of Olympic participation and souvenir medals.