I have a Scots Guards badge from a QVC era collection, the GM is splendid like the early stuff and with toned black loops affixed E-W. Ditto SG early Brodrick badges are similarly looped E-W.
Personally I’m not of the school of thought that N-S loops = Victorian / Edwardian on any Guards badges other than Grenadier.
To my eyes the badge in question does not really strike me as being of early manufacture.
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