What a great piece of figuring skating history!  Part of a Large Estate acquisition of Skating and Olympic pins dating from the 1930s to 1960s. 

In an article from 1957 (see image above), the United States Figure Skating Association Executive created a committee to create an "official" pin.  This committee considered using either Replica Medallions or the National Medal, finally settling on the National Medal.  This USFSA pin in silver wash with gold accents is neither of those and is believed to predate this initiative.

Measures approximately 1" by .75".  Vintage condition as shown.

See photos.