Hi,
I will throw my 2c in, and say it is not a cap or collar. It may very well be something else, but not those. The reason I say that is firstly the quality, which seems from the pics to be somewhat lacking. Victorian badges that I have/have seen, are always beautifully struck and finished. I have the cap and collar for the 5th, (attached) and as I say, I am not being definitive, but I have never seen one like yours, ie not bi-metal.
Hopefully someone more knowledgeable comes along to give a more expert opinion, but for me, I am with Frank.
Cheers, Tim
PS as for dimensions, mine are approximately 40mm x 27mm and 32mm x 22mm
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