This is a member badge of the "Verband deutscher Rundfunkteilnehmer a.d. Saar E.V.", (Association of German Radio Subscribers on the Saar, reg., assoc. ..).
Wikipedia says, this (quite tiny) association existed in germany from 1930 to 1936, so the badge must have been made within these 7 years.
I know of only 5 other Rundfunkteilnehmer Badges, but have never seen your Saar Version / Variant before; I do not even dare to say if its original or not, at first glance, the font style looks good to me, despite Werner Redo badges were very often faked, I would tend to say it is original.
These Rundfunkteilnehmer badges are quite rare, but since not many people know them, there are also not many collectors looking for them, so prices usually stay low.
While the symbol on it looks a bit like the 's' (or 'sig') Rune, its actually a picture of a Spark - a relict from the very early days, when transfering (long) range radio waves caused giant sparks... Since the association was very much NSDAP oriented, I can very much guess, they did choose the spark as their logo and the similarity to the party badge for obvious reasons.
German pin Help Please
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