Medal was instituted on July 04, 1898 by the Grand Duke of Oldenburg Peter II (Nikolaus Friedrich Peter von Oldenburg, 08.07.1827–13.06.1900) to commemorate the 50th jubilee of the beginning of the First Schleswig War (Danish-Prussian War or Schleswig-Holsteinischer Krieg).
It was issued to all few veterans of Oldenburg contingent of German Confederation army being still alive: former officers, NCOs and other ranks of three infantry battalions and one 6-pounder cannons battery.
An obverse has a crowned cipher “PFA” of the late Grand Duke of Oldenburg Paul Friedrich August von Oldenburg (13.07.1783-27.02.1853) who reigned in 1829-1853.
A reverse shows dates of military campaigns in three lines “1848 and
Round medal was
Ribbon was made of blue silk with three wide red stripes that leave thin blue edges.
Erinnerungsmedaille für die Veteranen von 1848 und 1849 was awarded in 1898-1900.