RE cap badge in silver?

[dumdum]

Hi

Interested in any comments re this full size RE cap badge in silver. No, it's NOT one of those "rare" silver badges that have plagued our hobby....

Faintly marked to the reverse is a mark for "V & S" (Vaughton & Son(s?) just visible but no h/m that I can see.

A little too big for a sweetheart badge, I would think but I defer to wiser people...

Sorry about the red line...not some novel attempt at copyright but our ancient monitor is showing signs of needing to be replaced.