Royal Fusiliers O.R.s Kings Crown Gilded Cap Badge.

[leigh kitchen]

I picked this up nine years ago, unsure of what it is and still none the wiser.
The badge is of a yellow metal and has a gilt finish applied to front and rear, including the slider.
It hasn't been brooched for wear as a "sweetheart", the slider is pierced with three small holes, which were there prior to the gilding.
Would these piercings be to facilitate attachment by thread to a card as a sealed pattern? (Three holes seem a bit excessive when one would do).
If so, was the badge a sealed pattern of an OR's quality badge with gilt finish or of a brass / gilding metal badge which was later gilded?
I've not heard of a RF sergeants badge with gilt finish being worn.