+1.   I performed pre-purchase authentications on USGI 1911(A1)s for many years, and no truer words have been spoken.   In my experience, original finish and overall condition are the two biggest factors - finish first, meaning that a rough original example should always bring more than a nicer refin.   The reason that I do not generally respond to WIW questions is because I have no way of guessing what something is worth to somebody else.  These are not market-fixed commodities, like an ounce of silver, etc. If this example is worth $3000 to you, have at it.    

A sailor's museum has many of Scovill's old button dies. https://www.marinersmuseum.org/2016/12/button-button-whos-got-button-die/

Kinda looks like that German aviators group that was used as a front to train pilots in Germany before WW2. 

Ha! Does Matt know his background?!  Matt is the Wizard of Research with that stuff 😁.  mikie

I just received this one, legitimate as far as comparisons go. It is the first one I had seen for sale or auction.

WW2 army em buttons had a certain finish and a low relief, but these Waterbury buttons have a shiny edge and the backsides are indented a bit, something usually on post-WW2 buttons.   These appear to be on their issue card.        

Nice cap! It’s in much better shape than the wreck of a one I bought this weekend. It was so sad looking I just had to bring it home. I did a little research on it the past couple of days. I was told the change in the badge mounting happened around 1947 ( or also 1949) with a regulation change. The back of the paper name tag is dated 1944. Unfortunately the name is illegible.  mikie

You might try using a UV flashlight in a darkened room on the writing.  I have found that some inks will glow under UV light.  You can get a small UV flashlight at Home Depot or Lowes.  I originally got mine to look for Tomato Horn Worms on my tomatoes at night.  The worms glow under UV light and are a lot easier to remove that way than trying to find a green worm under green leaves in daylight.

I would agree Colt's definitely sell at a non-insignificant premium. I regularly find RR 1911s much cheaper. Also I have found that Colts that have serialized slide sell for even more. I would guess because you can verify the slide and frame are known to be "correct"

I collect the Naval ensign flags (among far too many other things) I will say the most common one I have encountered is the #7, which is just a tad smaller than yours. the #12's are the smallest and fairly sought after. The bigger ones are harder to display (bit more fun at parties). Interesting yours has rope instead of grommets.