I think that that is part of a fire service rank marking (the 'pips' worn on the shoulders for more senior ranks, part of the more formal uniform that used to be worn before the modern uniform became more 'relaxed'').This one possibly police/military related as part of dress uniform given the slider.
The arms radiating out from the centre are intended to represent an impeller / impellor, the part within a fire pump that rotates around the central shaft to create pressure within the pump.
If so, essentially worthless - tens of thousands were made / worn.
Google "fire service rank marking impeller"