Hi Don. I noticed the no cutouts. So far I have not come across another example exactly like the one shown.
I also note Munchen as opposed to the normally seen Munch.
I wonder what a side by side comparison of the lettering would show?
It appears the non cutouts are darkened on the obverse.
--dj--Joe
I continue to wander off to see what my example looks like and get distracted. I will locate it.
If I recall correctly their are two different sword blade shapes for these membership pins.
--dj--Joe
I can post some random thoughts and join in a discussion. I have no formed opinion on the tinnie in question.
My initial thought is the SA was not shy about branding. Thinking, if they organized the event they would surely have added an SA emblem to the badge, e.g. H.J. Schlageter tinnies. (?)
--dj--Joe
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