One-piece, numbered on the back 1204.
Uncut metal, but the badge is quite heavy, and the deep engraving of the number does not reveal any metal other than white - possibly made in silver(?).
The post is trimmed, but the enamel is beautifully preserved without any damage. Overall, except for the trimmed post, beautiful state of preservation of the badge.
The company's contractor's nut included, diameter 23.3 mm.
Badge diameter: 34.5 mm.