1.25” reads “Townsend O.A.R.P.” The initials stand for Old Age Revolving Pension (Plan) and in 1935 the group claimed 5,000 clubs. They collected a remarkable 20 million signatures on petitions submitted to Congress and were the primary reason for the passage of the Social Security Act of 1935. See fascinating original art editorial cartoon item #66 depicting Townsend and Huey Long shedding tears because FDR and Social Security has stolen the thunder from their programs. Button has trivial oxidation dot on metal reverse and probably never had a backpaper. Front is Exc. and displays Mint.