This item is the repro verison of the German Imperial Airship Badges(Zeppelin)
below is some information about the badge:
German Commemorative Zeppelin badges were first made from 1920 to 1923, for soldiers who were assigned to zeppelin units. These badges were die stamped from a thick tombek (high zinc content brass) blank by a heavy press. As silver will not adhere to tombek, these badges were first coated with copper (which would adhere to tombek), and then coated in silver (which would adhere to copper). Zeppelin badges tend to run about $1500 for the naval version, to $2400 for the army version.
Later, in the 1960's the original dies were used to re-print a number of badges, which sport a small round pin back. These generally run upwards of $750. Modern reproductions, such as those offered by World Wide Militaria, cost about $20. Most steampunks will go for the repros, as you would expect. However, if you're a die-hard zeppelin fan, militaria collector, or simply someone with way too much cash on hand, an original 1920 badge is the thing to go for.