I can make out '#1054;#1029;#1050;#1029;#1035;#1029;#1053;#1054; #1050;#1054;#1029;#1054;#1042;#1054;' from one side in a stylized font. '#1054;#1029;#1050;#1029;#1035;#1029;#1053;#1054;' doesn't make any sense (I probably got it wrong) but '#1050;#1054;#1029;#1054;#1042;#1054;' clearly means Kosovo.
EDIT: I guess the forums doesn't support certain characters. Well, the more you know!
Liberation of Kosovo medal from Kingdom of Serbia instituted in 1913, the legend means 'Kosovo avenged'. It refers to First Balkan war between Balkan countries and Ottoman Turkey.
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