Commemorative Medals | Romanian And Austrian

The larger one on the left is about the Romanian Athenaeum in Bucharest, Romania. Down the bottom of that Wikipedia page you'll see a very similar medal to yours, except the dates are in regular numbers rather than Roman. The dates on your piece appear to be "1886-1889", the latter date perhaps the date of issue of this piece.

The smaller piece to the right is from the Austrian city of Salzburg. Google-translating the reverse text gives "Exhibition of painters and allied industries". Here's a similar medal from a similar exhibition in another Austrian city, Bregenz.