Jim Michels submitted these photos of an excellent example of the WWI Victory Medal with a Subchaser clasp.
This medal is inscribed for crewman C. B. Coulter, MM2. The clasp is a fine example of the Art Metalworks "Sub Chaser" clasp.
Editor's Note: If you are interested in WWI Victory medals, see my post on the authenticity of various Subchaser clasps. Most of the the examples for sale online, including those described as genuine Navy issue, are fakes or post-war reproductions. Caveat emptor.