Maybe because the pin is so old the guard is on the "wrong" side? Did they generally offer guards in the 20's? I'm thinking they didn't and this person had it added on later?
On that note - Do most of you alums keep your guard on? I still have mine on, but I'm not sure of "proper" alum badge ettiquette?
Also, I'd really love to get a silver badge as I have a lot more silver jewlery, but I have an attachment to "my" badge. Anyonw else feel this way?