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The Gold Lifesaving Medal or the Silver Lifesaving Medal is awarded by the Commandant, U.S. Coast Guard, to any person who rescues or endeavors to rescue any other person from drowning, shipwreck, or other perils of the water. If such rescue is made at the risk of one’s own life, and evidences extreme and heroic daring, the medal is GOLD. If such rescue or attempted rescue is not sufficiently distinguished to deserve the medal of gold, but evidences such extraordinary effort as to merit recognition, the medal shall be SILVER.