Let me expalin my doubts in that.
If you want a pin holder plate, exactly like these with the 2x3 lines and in the same dimension like the original, you will need to sheet metal stamping tool. Than you would need to put out some volume of pin holder plates, to get your money back. I would guess (not realy my field of expertize) at least several hundred. Has anybody seen any of them?
So I would follow Demir in his assumption that the pin is original.
But on the other hand... You could not start a production of fake stars with the vague hope to obtain enough original pins at a reasonable price (many of these pins are afixed to tinnies that are by far more valuable than a TWM of this quality).
If not more examples of this type pop out of the ground within the next few years, I would follow ottomanmedal. I then would assume that this an interwar produced piece, that is so ugly that it was not accepted by the fast majority of buyers and did survive only in very small numbers.