I posted this on WAF.
"Merck s/l. Bronsart z. fr. Erg. an 54 I.D
Merck seinem lieben Bronsart zur freundliche Erinnerung an 54 Infanterie Division
Please forgive my deutsch but in other words, the engraved EK you are looking at was a private purchase, IMHO, as a present from Merck to his fellow comrade Bronsart remembering their service time. And the date you do not mention, 15.7.16, I believe has to do with the western front battles. "
Who won Emedals auction? Do you know? Cheers, Alex.