This Karl Goetz medal commemorates the massive defeat of the Allied forces at the battle of Gallipoli in Turkey, a British campaign originally championed by then First Lord of the Admiralty Winston Churchill.
Allied forces (mostly ANZAC, soldiers from Australian and New Zealand) landed on the Gallipoli peninsula to be able to control the Dardenelles, the straights going through Turkey to the Sea of Marmara and then to Istanbul and the Black Sea. The intent was to control the straights to reduce reinforcing forces from the Ottoman Empire from assisting in continental Europe.
This battle can best be described as a tragedy, as the British and ANZAC forces never controlled the straights and lost many men.
Cataloged as Kienast 169. Bronze (heavily patina-ed), about 58 mm. May also be available in cast iron.
(I may have obverse and reverse swapped, I've seen it presented both ways.)
From my personal collection.