Rare motorcycle rally badge Florence 1934 Raduno del Fiore

Interesting shield / badge coined in metal sheet, measures approximately 6.5 x 5 cm, 
for the "Raduno del Fiore" motorcycle rally held in Florence in 1934.

The shield has no holes at the edges to be sewn so I assume that it may be a fund 
of the manufacturer (Picchiani and Barlacchi or the Florentine Artistic Establishments
 Company operated in Florence) to which they have not made the holes or have not attached
 a brooch.

Perfect conditions !!