U.S. PHS hat badge.
No hallmark, however manufactured by Gemsco, NY (General Merchandising Co.) with Second World War pattern dies. Same die used for base was also used for War Shipping Administration hat badges.
Badge is plated with 1/20 10K Gold.
I personally think this design is horrible; the eagle is not at all graceful. The pattern for the anchor and caduceus continues to be used on contemporary U.S. PHS hat badges.
Badge base reverse.
Shield reverse; incuse punch detail.