I feel that what you see here is part of the history of this 100 plus year old uniform.  These men came home and the uniforms were put into storage...sometimes in the closet or a trunk, other times in a barn or shed.  If it were a blank uniform I'd salvage the buttons, etc.  As complete as it is I guess I would try and save the poor thing.  I would give it a good cleaning to get rid of droppings issues and then would preserve it, as is, ugly damage and all.   There are amazing restorations processes out there that could repair the sleeve (not restore but stabilize, etc.) and who knows what restoration processes will be developed in the coming years?  This is just my opinion and I understand wanting to save only the insignia, etc.  

Thanks, I figured. 

ASSG. Abreviation for assigned. Assigned to CO--- cant make it out but thats the unit he was assigned to. 120th infantry etc etc cant make it out...............   https://www.findagrave.com/memorial/116303496/christian-t.-christensen   Purple Heart.  

zipper makes me thing ww2. Found this is the garage of an estate . Owner had no other military items that I noticed   

Great Find--- plus a USMC

Probably Christian T. Christensen, 1st Lt, 129th Infy. from Illinois.     W

Commercially available commemorative, remembrance, souvenir type thing.

Thoughts? 

Agree with Patrick. This is a common but unknown British maker.