`Ken,
I honestly do not know what kind of badge/medallion you have found. It looks to be in very nice condition for the age. My guesses are a railroad badge or a bus driver's ID bag. I think the number 1050 is an employee number and the 2 might be the route number. Port Authority of Allegheny County (PAT) bus started in 1964. I would check with the Heinz History Center, in the strip district of Pittsburgh. They may be able to help you more. Hope it helps.