Claudio, it says exactly "Graf Ferdinand".Of course that doesn't mean its %100 Graf Zeppelin.If there other Graf Ferdinands exist, it could be one of them as well.The inscription its not new. Unfortunately the Medal was cleaned once, so there is no patina left.Also I took the picture under the light to show better details of that engraving,so it is a little shiny.Also, lets say you are engraving a medal and trying to look like honoring Graf Zeppelin, why not directly engraving the name "Zeppelin" ?? If thats the whole point ,don't you think that would of make everything easier??
Regards