I do not have a large amount of experience with U-boat badges, but this one looks like it conforms with most Schwerin badges that I have in my photo archive.
What we don't know is the material. There are grey areas around the wreath which suggest it could be a later Schwerin zinc piece in which case the mounting plate for the C catch is fine.
A very interesting badge for me as it may change my mind on which are the earlier Schwerin U-boat badges, the ones with the thin eagle neck round wire catch or the ones with the thick eagle neck silver square section catch.
As well as the plate on the catch it also has the hinge fixing rotated 90 degrees to the vertical position as I would anticipate with a zinc badge. Can you confirm if this is in fact made of zinc and any idea as to the weight.
Another comparison can be made looking at the bow of the reverse, it has the charactoristic raised section in front of the gun. Compare with photo below.
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