I think this takes us around again to the question of metal badges sold "commercially" by the PRI (President of the Regimental Institute) to soldiers and worn by them with obvious CO and RSM approval. Collectors need to decide if they are only going to collect badges as "issued" by the Quartermaster or if they will also collect badges actually worn by soldiers!
Bear in mind that until fairly recently most officer's badges were privately purchased by the officer from the Regimentally approved civilian tailor. They are (particularly OSD bronze from WW1 and WW2) therefore "commercial" and not "issued".
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