I'm not a expert on badges, by any means.
But with no rivets for the assembly, and the pin and catch, I'd say Repo.
I love that badge, but do not own one.
Ed
I agree with Ed,, that is 4th reich stuff....
The story is, what it is, a story.
I have not seen one without rivet construction, and have not seen that pin style on that badge.
Ed
That particular badge was originally only produced in silver (page 205, Angolia "Political and Civil Awards of the 3rd Reich"). In addition, the "Munchen 9" mark is typically seen on reproductions.
Is not a very good match for known originals, pics of which are easy enough to google.
The date in particular is terrible, put on like a smudgy afterthought.
Might it still be pretty old ? Sure, repros have been made for decades.