I think you have an original M1/92 members pin produced by Carl Wild.
The front looks good but there is some enamel loss and damage.
The back is unusual it has a different style of lettering as though the die has worn as usually Wild's badges have a crisp RZM mark and crisp makers number. I do know there are at least two obverse designs...that match different reverse stampings.
IMO it is a good one.
All the best
There are some hairline fractures in the white enamel, but all of the enamel is there. On the edge by the "N" it looks like it has been hit to cause a darkening of the red enamel and a very slight depression on the edge. My camera is not good enough to capture this detail.
Green lights across the dashboard on this one.
"Much that once was, is lost. For none now live who remember it."
It looks like mine M1/92 and have the same type of font and markings on the same places,but mine dont have the original catch left.
I am noticing that this pin has a very dark face, The letters are very hard to see. I cannot get a good photo as the red enamel is so dark. Is this normal? I see other pins that are very bright.
I also paid $50, did I do okay?