I believe this might be a boy scouts medal of some kind. The medal is red enamel on a silver base metal and is about the size of a penny. Does anyone know for sure what it is? Thanks!
You are correct sir. From like items I saw for sale that were intact this was the drop part of a tie bar. I wanted to be sure the BSA thought that this was an emblem of theirs, so I found this; Air Explorers (1949-1965) The patches seem to show the best images, as the diagrams above them seem a bit fuzzy.
Here's what I gather yours looks like intact (I can't tell if you have the whole thing). http://www.etsy.com/listing/39679992/1950s-boy-scout-anchor-wings-compass-tie