Looking at the script on it, my non existent German leads me to believe that it's of the German Bicycle Company (so far so good) but Nied. Ost., is that Lower Austria, Nieder Osterreich? On the edge is the word Wien, which is Vienna. Given the brief period of Nazi enforced union, I'd say it's from Austria in the Anschluss period, so 1938 onwards but before open war broke out, since wartime decoration is reduced or abandoned.
But I may well be utterly, absolutely, wrong.
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