Need help IDing this French (?) Bullion Patch

[fredswiss]

My grandson just acquired this patch in an antique store along with several U.S. military patches. I have no idea what it is. The colors are definitely red, white and blue as can be best seen on the back of the patch as the front is faded. Any thoughts on value would also be most appreciated.

[fredswiss]

View next to US quarter for size comparison:

[fredswiss]

View of the back. Thanks in advance for any help:

[scotty1418]

I'm not very convinced it's a French-origin or issue piece.

[just]

Hello
red-white-blue is definitively not french !!
cordially
Didier

[peter monahan]

Would it be orange, whiote and blue and Dutch?

[fredswiss]

Peter,
I think you are correct. I suspect it is Dutch. Thanks for your help.
Fred