Pre Coast Guard Honorary Statue

This was given to my great grandfather by the maritime group that was to eventually become what is now our Coast Guard. Story goes my Great Grandfather helped rescue a shipwrecked group off Massachusetts in very stormy weather and was given this statue for his bravery and credited for saving the passengers and crews life. The plackard on the front of this statue is unfortunately missing but it is a really cool piece...
I would like to know if anyone has more about this item etc...
I am not sure how to classify this item either...