Yes, it appears that the VB w/m badges had additional Bn scrolls, this one's no pin holes to indicate loss of scroll, I don't know what unit would wear the badge without Battalion identifier.
The black finish is definitely paint and not a factory finish job.
If not a VB badge but a walking out badge, painted black as a make do replacement as 5th Bn badge?
I'm not anxious for it to be one thing or the other, just it'd be good (as always) to identify what a badge is.
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