Posted 05 August 2008 - 03:53 AM
My slight familiarity with German is enough for the medal. It gives the Imperial and Royal titles of Wilhelm I: "Wilhelm the Great, Emperor of Germany," and on the right "King of Prussia."
It's a lovely medal, high-relief, cast either in bronze and gold-plated, or in solid gold. It's worth a pretty penny just as metal in the later case, but worth more as an antique I'm sure. It almost certainly dates back to Wilhelm I's reign, which ended with his death in 1888. I suggest you get it appraised by a specialist--it may be worth enough to require a rider to your insurance.
Can't help you with the flag, I'm afraid....