VS-38 / Bullion Patch for Civilian Coat Jacket?

[Fly USMC]

This came in with a grouping of Navy Items. At first glance I thought it was for a German town / village. I did a little research and found it was for AIRASRON-38 or VS-38. this is a Navy Antisubmarine Squadron that has seen service from the Korean War up to modern times. It is applied to what I believe is a removable pocket for a civilian dinner Jacket.

 

Anyway, can anyone tell me anything about this patch and its vintage. I am guessing Vietnam era? possibly earlier.

 

[Fly USMC]

Back and close up of embroidery