The sword is not really rare at all, and it is not "Third Reich".
Designated Bahnschutz items did not occur until after the nationalisation of the railway system in 1937 - prior to that time the various German states had separate, private, railway systems.
A variety of edged weapons were worn by these disparate groupings, and indeed they had their own distinctive uniforms.
After the nationalisation enforced under the Third Reich, all uniforms were standardised, and all dres weapons were proscribed to be in a specified form. This sword, was not one such item.
FJS
