Vintage GEMSCO U.S. Navy officer hat badge, 1" x 1". The bald eagle and shield are engraved on the back with "sterling silver." The anchors and ropes are engraved with "1/20 10K + ster," indicating that they contain both silver and gold (probably gold plated over metal including sterling silver). 
 
Beautifully detailed features include stars and stripes on the shield, amazing feathers on the eagle who is gripping the shield with his talons and the tiny, realistic components making up the ropes and anchors. Its intricate design and historical significance make it a prized possession for those interested in United States military history.
 
(GEMSCO, the abbreviation for General Embroidery & Military Supply Company, was a New York-based manufacturer of military insignia during World War II. They produced a wide variety of embroidered and metal insignia items.)