Off. PANZER side cap OPINION

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Hi ,I want to share you for your opinion this side cap I have in my collection from many years.I'm not so expert in this kind of caps so I would like to know what do you think,in the left side appears it wore a badge sewn with two different threads,the silver piping its heavy oxided ,there is only one strange thing the lining is stained of black ,could the black wool marked the lining?
Thanks for your thoughts
Carlo

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side

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bird

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1

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2

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silver piping

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3

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back

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4

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5

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6

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gourmet

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inside

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factory

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stained lining