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This medal from the «40 Years of the GDR» series, dated 1990, is devoted to the East German circus. In 1960 the country’s circuses — Aeros, Busch and Berolina — were merged into a single state enterprise, known as the State Circus of the GDR, which was run from Berlin and toured the whole country.
The date on the medal coincides with the end of that story: the state circus came to an end together with the state in 1990, and over the following years the enterprise was wound up. The medal remains a reminder of the circus tradition of a country that no longer exists.
It is a private commemorative issue in silver, not a state award or a coin. Grade UNC: no wear, with the surface in its original state.
If this theme interests you, take a look at the other items in the VPcoins catalogue.