Missing the nut to screw down.
The product is a Soviet badge specifically designed for graduates of the Combined-Arms Higher Command School. With a rhombus shape, this badge represents the military and specifically the higher command school. As a collectible item in the militaria category, this badge likely holds significance for those who have attended or graduated from this specific military training program. The badge would serve as a symbol of honor and accomplishment for the graduates of the school, showcasing their dedication and service to the Soviet military.

