Very beautiful old sterling sash pin piece which is marked P& B sterling. (Paye & Baker 1908-1960 Massachusetts)Pay special note to the prong in front of the pin back. It may have been More pointy at one time? but is blunt on the end now.
This is a very nice piece and would be beautiful worn at the waist or the neckline. Or even as a traditional brooch.
It has faint etched monogram on the reverse CBL? Would not be seen from front and just gives it more antique charm. It is a C clasp pin.