This is a GREAT thread!!   WOW!!

Thanks Tonomachi

It seems I have a history of having people get excited by my fashion sense. I bought this shirt at the 2007 Spacefest space buff convention in Arizona. The art was created by artist Kim Poor who was one of the event organizers. A few years ago I wore it when I attended my next Spacefest. Kim passed away the year before, and a number of attendees, including some space scientists and a couple of astronauts complimented me on wearing the shirt in honor of Kim. To be honest, I hadn’t really thought of that angle when I decided to wear the shirt. But it worked out well.  mikie

I agree with eagle mtn that this is some sort of surface corrosion.  I believe GEMSCO made a whole bunch of these wings in the 1950s and 1960s as I've seen a lot of them over the years.  You see these in pin back and clutch back with the same hollowing of the chute and hallmark.  I have a picture of one in senior level so they probably made one in Master level.  I've seen them in the regular antique silver finish and a shiny silver finish that might be nickle plating or something similar.  I have a picture of one that is solid back (no hollowing) and clutch back with the same exact hallmark but placed near the upper center of the chute.  In addition the clutch back pins are not soldered or lined up evenly like this example.   

All modern copies/fakes

You may have gotten one bad review because this is typically not what the majority of British made WW2 era pathfinder wings look like.  It is like you mentioned a variant and one of the harder to come by ones as I could only find one other picture of one (below) in my photo reference library.  So it is genuine in my opinion.  

Desert Uniforms, Patches, and Insignia by Kevin M. Born and Alexander F. Barnes is the book.  If you don't want to buy it, odds are you can get it via Inter-Library Loan at your local library.  If you're interested in DCUs and on Facebook, there's also a collecting group that is a great resource.

https://web.wpi.edu/Images/CMS/PPL/snas.pdf

June 06, 23, I got one too.  Same sheath, but both were in worse shape that the pictures let on.   Any more ideas?

Google translate says "Naka Ward Military Association Tokyo City Federation."  Probably one of those things a soldier picked up just because it's got Japanese writing on it....I know of many a can of Pepsi that came back from the gulf because they were in Arabic..     Mark sends