It is a badge to commemorate a WW1 Veterans meeting in Hanau in 1935.
Welcome to the forum mate, where did you get that user name ??
"In all my years as a soldier, I have never seen men fight so hard." - SS Obergruppenfuhrer Wilhelm Bittrich - Arnhem
Its one of my nicknames, lol.
Ade is right, it has a Tieste classification of Hanau 35-01.
Has this got a value and is it collectable?
Provided it is complete with the pin on the back, it is collectable. Less so if the pin is missing.
I cannot help on current values, sorry.