looking at the last picture, which is upside down according to the shield orientation, you can see that what is actually the bottom of the piece has what appears to be cutouts that look like they should go around some 3 dimensional lettering. This makes me think this piece came from something like a stove/heater, an ice box, or maybe even an antique automobile. I think Matt is correct that the holes are not correct and it may have been re-used