The cap itself is 100% correct. Now the insignia is another matter. First it has a first pattern birds but final pattern wreath and cockade. The wreath and cockade are obviously replaced as noted by the extra holes in the pasteboard. Now I am not home to look at my references but I am pretty sure Erel did not start making this style of visor (the graded visors) until 1938 which would rule out the first pattern bird. I would say what you have is an original cap that was post war restored.
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