Military Shield Pin?

[EC.Mason]

I found this today in an area where I have found old coins; as well as being close to an old Civil War site. Anyone got any idea what exactly this is? I cant find a match anywhere. It also has a wing nut on the back which I really don't understand. If it was some type of pin; it seems that it would not need such a large nut to hold it on. Thanks and any help would be greatly appreciated.

 

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[Michellets]

Maybe it isn't military... could it be a bicycle emblem, or something similar?

 

[uglymailman]

I think what you have is used to attach license plates on cars. I remember them having red or blue glass.

 

[EC.Mason]

Yeah that's what my step father told me. Said he remembered license plates having these in the 50s.