The Imperial German Colonial Medal (Kolonialdenkmünze) was established by Kaiser Wilhelm II on 13 June 1912 with revisions on 17 February 1914.  The medal with clasps was awarded retroactively.  This guide will address only the clasp VENEZUELA 1902/03.  The clasp was awarded for participation in an international naval blockade of Venezuela in 1902 to 1903 to force that government to repay European debt.  There were some naval strikes against Venezuelan coastal fortifications (San Carlos is well documented) as well as the occasional ship to ship action.  No German casualties (other than accidents and disease) were reported.  If you are interested in details of this event, some internet sites provide further information (the absolute best specialist sources are in German) but specialized history books are the best English language source.

VENEZUELA 1902/03 was awarded to an Imperial German Navy Squadron (including the Naval Infantry which were aboard the ships and cadets & boys aboard a participating training ship - the SMS Stosch).   This clasp is unknown to a German Army recipient.  Sources vary as to the numbers of entitlement but most sources quote that approximately 1100 Germans were awarded the clasp but not all received it due to the lapse of time (almost 10 years!) from the blockade to the award.  Note that this figure does not match the total of crewmembers from the ships present.  Other sources indicate that 2037 or 2158 Germans were eligible (although not necessarily awarded), which matches the crewmember total.  The vast majority of known recipients were entitled to at least one other medal.  All officers and most of the other recipients have been documented and it's increasingly difficult to add an unknown recipient to the list.  

• SMS Charlotte - Covered corvette with a crew of 477.
• SMS Falke - Small cruiser with a crew of 165.
• SMS Gazelle - Small cruiser with a crew of 249.
• SMS Panther - Gunboat with a crew of 121.  This Kanonenboot may not have been eligible.  There is considerable debate within the specialist circles, each offering documentation. 
• SMS Sperber - Small cruiser with a crew of 165.
• SMS Stosch - Corvette used as a basic training and school ship with a crew of 452.  Some of the crewmembers may not have been eligible.  There is debate on this topic within the specialist circles.
• SMS Vineta - Class II cruiser with a crew of 529.  Commanded by Kapitän zur See (KzS) Scheder (commanding from August 1902 to November 1903). 

While the medal is somewhat rare, this bronze clasp is the hardest to find and the most costly.  Currently, this clasp is only known in two types:  Type 1 - VENEZUELA 1902/03 (left, note that the pebbled background is not prominent) and Type 2 - VENEZUELA1902/03 (right, note that the pebbled background is prominent).  Both types are of the same width as the ribbon, wide lettering (often misaligned), and with sharp flat prong backs.  The bronze metalic composition seems to vary and I've noticed no 2 clasps which appear identical to date.  Examples of this clasp on the market are highly rare.  Not mentioned are 7 known medal groups (there are likely more that are not documented) which contain this clasp that are in private collections. 

• In 1999, a single clasp (Type 1) was sold in Germany for €187 
• In 2001, a single clasp (Type 1, illustrated above left - the pin prongs were replacements) was sold in Germany for €250 to a German collector
• In January 2006, a dealer had a clasp (Type 2, illustrated above right - the pin prongs were replacements) on display in his German shop and it was not available for purchase. 
• In October 2006, a medal group with the 1914 Iron Cross 2nd Class, Oldenburg Friedrich August Cross missing but with clasp VOR DEM FEINDE, Combatant's Cross of Honor (with crossed swords on the ribbon as well), China War Medal missing and no clasps, Colonial Medal missing but with clasp VENEZUELA 1902/03 (Type 1), and 2 other medals missing (probably Long Service Medals) sold at auction on ebay for €604.  The same seller also listed a medal group reportedly to a recipient of the VENEZUELA 1902/03 clasp (but the clasp was missing from the medal) and was sold for €727.  A ribbon bar which matched the 2nd group (complete with a miniature VENEZUELA 1902/03 clasp) was sold by the same seller for €405 
• In November 2006, a single clasp (Type 2) was sold by a German dealer for €800
• In March 2007, a single clasp (Type 1) was sold on ebay.de for €202.51

Copies are rare while even fewer forgeries are known but this is likely to change very soon due to the increased demand and selling price.  Most copies (typically cast) were made for collectors or re-enactors who required an example.  Please review my copy medal guide http://reviews.ebay.com/Worldwide-Military-Medals-Copy-Medal_W0QQugidZ10000000001875117 and forgery medal guide http://reviews.ebay.com/Worldwide-Military-Medals-Forgery-Medals_W0QQugidZ10000000001875079 for a more detailed explanation.  My best advice is:  Buy only from a reputable dealer who specializes in Imperial German medals and who will offer you a 100% guarantee for this clasp.

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