I’ve been corresponding with Keith Hook about this badge.
It is indeed an NCOs arm badge. Keith has an identical one in his collection, same HM, maker, date, position of mark etc.
The badge is die stuck but due to the thickness around the portcullis the reverse detail lacks fine detail but is deep. The HM being stamped onto this has not completely flattened the peaks and troughs of this detail leaving remnants appearing as lines running through the HM. Totally genuine and not at all inlaid from another silver item.
On this occasion Bosley’s are wrong, it’s a genuine badge.
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