From my best guess,

Nautique de Nice would be the Club Nadical/Sailing of Nice as in France, it
would be a sailing club in Nice, France. It lookes Mr. De Luserna and his
Boat Saint Maxime

GUIVRE may be the Commadore of the Club, OR the maker of the Medal.

Since Nice is a HUGE port town, this would make a lot of sense. Start
looking into Nice Clubs of 1895.

Rose