Princess Helena Victoria & Princess Marie Louise of Schleswig-Holstein

Both of these granddaughters of Queen Victoria, (through her daughter Princess Helena – Princess Christian of Schleswig-Holstein) were members of the Order’s second class. The wonderful publication Ancient and Modern Gems and Jewels In the Collection of Her Majesty The Queen (available for us all to enjoy online as a free PDF see… https://www.rct.uk/collection/themes/publications/ancient-and-modern-gems-and-jewels) tells us on p250 that both sisters’ second class badges are in the RCT collection. As is their mother’s first class badge, p247, this is noted as “The badge was duly returned, together with the Princess’s other Orders, in 1923”.

Yet they are both photographed wearing the insignia of the Order’s first class. Upon their initially returning the insignia, did HM King George V allow the elder sister Princess Helena Victoria to wear her mother’s badge during her lifetime, and then it was passed on to Princess Marie Louise upon her death in 1948? (Or did they share it, and individually wear it on important occasions?) Either way if that was the case it appears to have been returned to the Royal Collection after Princess Marie Louise’s passing.
Princess Christian of Schleswig-Holstein’s badge was the first given upon the former establishment of the Order in 1862, so it is a historic badge. See
https://www.rct.uk/collection/442015/badge-of-the-order-of-victoria-and-albert-first-class for the badge and
https://www.rct.uk/collection/2908120/princess-christian-of-schleswig-holstein-1846-1923-when-princess-helena-princess for her wearing it on her wedding dress.

Princess Helena Victoria
https://www.worthpoint.com/worthopedia/photo-card-princess-helena-victoria-1853446274

shows her wearing the first class insignia in the attire she wore to the 1937 Coronation.