WHICH... ................ would lead me to believe... that at some point it has been repaired... BUT.... therein lies the NEXT dilemma...
Which part was repaired :P
Nope....
Always go with the older part.
This will date it.
This badge was made on 1879 Morgan and has same C catch. Morgan very worn when badge made. I’d guess homemade in the 20s-30s? Badge has initials PHP scratched on back. Like Arc said, if a repair could be about any period.