Clever...because it looks like it has been aged to deceive.
Whats wrong with it:
The palm trees are not of the correct profile/detail
Backing material doesn't look correct for an issued cufftitle
Lettering is near enough but the construction of the letters is pretty tardy looking
Hence: It could be a locally made additional piece copied from an original but all in all it is not something I would feel comfortable with in my collection