I believe it's Knights Templar. That's one of the oldest versions I've seen, and I've never seen one that had the clasp for wear directly on the uniform instead of hung from a ribbon. Kinda like a German Iron Cross 1st class
The Knights Templar 27th Triennial conclave (conference/party) was in Pittsburgh that year, and this apparently was a souvenir medal from Commandery #1 there. I don’t think it was specifically earned, beyond making the journey there.
Bury it in a hole and call the Discovery channel. You, Marty and Rick can be partners. I think I saw a marking like that on the castle wall on the show.