EveCool find. It’s a badge for members of a fraternal benefit society called the “Royal Arcanum”. These were also made as watch-fobs. The society was Founded in 1877 in Boston as a non-political and non-sectarian organisation and originally only open to white males, providing life insurance with benefits payable to their dependents.
The “V.M.C” stands for their motto (Virtue, Mercy, Charity) and the “1109” had an esoteric significance as part of a bunch of pseudo-masonic claptrap that was intrinsic to their oaths and rituals.
Difficult to date, but likely early-mid 1900s. The society still exists today, but in a rather more orthodox manner:
en.wikipedia.org