This is a delicate mid-century Japanese saltwater akoya cultured pearl link bracelet. 

The pearls measure 4.75-5.00mm round. They have good luster with light rosy overtones. 

It is set in a bright gold filled setting with twisted bead spacers. Stamped "1/20 12K GF" for gold filled. Total length is 7.25 inch.

All pearls are truly vintage and have only been lightly cleaned.