IMO this item is not good. My conclusion is due to the lack of detail of the embroidery. As well as the rzm tag looks to be a copy; even the paper looks to be modern. Still, I would wait for others to comment, for I am no expert and this is not an item I have had in my collection.
This one posted is a known fake. Take a look at this one just like it............Google Image Result for http://germanmilitariacollectibles.com/upload/2012-10/A3610F2C-4779-4E21-9563-27C673D2F9C9.jpg.......................
[h=3]e plu·ri·bus u·num[/h]
I think this patch didn't even exist in those days. Only in these days. 4th reich fantasy item IMO.
I'm guessing that this one's a real stinker. The gray stitches are a nice touch: I suspect they were used to give the impression that the item came from an SS uniform of the same color. Even the ink on the RZM tag looks wrong....IMHO.