🔎 UNIDENTIFIED Carved bullet? CW?

[jwp1964]

Not a recent find, but was going through my CW bullets and cleaned this up to find what I think is a carved bullet. I just thought it was a fired and flattened round. Pics attached I see a person facing leftRight hand raised. Ribbon above head to right seems to have letters I can’t make out. Any input greatly appreciated. About the size of a nickel.

 

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[Jack873]

My eyes may be playing tricks on me, but in the second image I think I may see what looks like a bust facing to the right.
Not the same, but similar to this one.

 

[jwp1964]

Thanks for the input, now im kind of seeing it, lol.