It says ''The coat of arms of the Don Army Region''. Probably referring to the Cossack troops and the short lived Don Republic. It's not a military badge but more of the souvenir as the back indicates the price of 25 kopecks. Was probably made during the late 80's or very early 90's (USSR) as with adoption of the free market economy Russian Federation abandoned the practice of stamping the price on the objects sold in stores. The reason it's not earlier than 1980's is the fact that the Cossack troops weren't seen favorably by the Soviet government as they have supported the White Army opposing the Red Army during the Russian Civil War of 1917-1922 With the arrival of Gorbachev and the Perestroika (1985), the popularity of the Cossack movement grew again and the souvenirs like this one were yet again mass produced. It's most certainly not gold, could be plated brass or a similar metal.
Very interesting and unusual find for th U.S. Congrats!