Rare? Repro? or "Fake Fantasy"?

It also helps if you know that this seller also has a store (Tom Nash Trading) that sells a LOT of repro WWII insignia, including "King's Crown" Brigadier/Colonel cap badges. Since they have a lot of these items in continual stock, they are either manufacturing themsleves, or have a contract with a steady supplier.

Hey, once you program the embroidery pattern, changing colors and backgrounds is just a matter of using different fabric and threads.