Picture a drug store or 5 and dime in the 1950s and hanging on a hook were cheaply made toys.

Cops and Robbers was a popular game kids played where one or more kids pretend to be a robber and the other the police officer trying to arrest them. I believe this was the purpose of this old Trick Realistic brand Special Police badge. 

Made in Japan of plastic or a soft metal the badge comes with original package with original card and badge. 

The badge has a lot of paint wear I'm guessing from years of storage ant the package has a tear in the plastic in the back.