This belt buckle, and identical others like it, 

was the first productivity award given by the US Senate.

It was presented to them by then Senator Luger

as part of a set that included a key chain and lapel pin. 

Measures 2 inches by 3 inches.  Not magnetic.

Designed to accommodate a 1.75 inch wide belt.350

In case you can't read it, it says:

"First US Senate Productivity Award

presented in the United States of

America, presented jointly to the

management of Warrick operations

and Local 104 in recognition of the

efforts of all employees presented

by Senator Richard G Lugar (R. Ind.) 

on January 20, 1984, 1 of 3875"

I believe "Aluminum Company of America" is "Alcoa"