I was in boy scouts for quite some time..started off in cub scouts,then in boy scouts i worked my way to first class(about as far as i had gotten)i don't ever remember having the opportunity to make a buckle like that nor anyone else in scouting for that matter.
That buckle is very unique and never saw anything like that ever..as far as i can remember cub scouts are still part of B.S.A(boy scouts of America) don't think there is a cub scouts of America.
possibly the letters are the initials of the person who crafted it,yet i could be wrong.....I live 3 minutes from a boy scout camp that has a small museum on the premises...i can take a ride there tomorrow and see if they have ever seen such a buckle or if you have one in your area that might be a good place to start.....cool find none the less
again this is all just an effort to help out,and my whole post could be wrong
HH
Shawn