Hello Larry;
This is a standard issue EM/NCO breast eagle for all service arms of the German Army. (sometimes referred as M1940).
From your photo it is nicely factory applied to an HBT tunic.
So, to answer your question, it COULD be used by Panzer troops!
(the eagle used on the black wrap-around jacket is on a black background, with the eagle in white, gray or flat silver).
Enjoy your day! Chris Varrichio
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