Nose Dragon Dolphins Submariner Officer’s Pin

[mds308]

I believe these are pre WWII late 1920’s dolphins pin.  They were made in Shanghai China by Nose Dragon.  What a name.  A nice theater made piece.  Can anybody add information like actual production date?  I wonder if there’s any guess on quantity made?  I’m sure they are scarce if not rare.  They measure 2 11/16 inches wide and were tested for precious metal.  They’re not silver and they’re not gold.  They do appear to be a heavy gold plate or gold filled.  Thanks for your input.  

[Josh B.]

Superb!  Really tough one to score.

[mds308]

There appears to be a Roman Numeral 9 (IX) notched on the bow.  Is there a chance that this was for the USS S-9 (SS-114)?  According to what I've read, the S-9 was part of the Asiatic Fleet and they spent time in China and the Philippines.  They returned back to the West Coast in 1924.  Coincidence?  If this was the intent, I don't know why the Arabic 9 wasn't used and why a Roman Numeral IX was used.  Thoughts and opinions appreciated.  Thanks.