Third Reich kriegsmarine Cloth Badge

This unusual badge has a " mobile" ships wheel in a grey/green colour embroidered to the front, with a superimposed iron cross emblem in black. A light brown, sack like backing material has been used. Overall in good condition with some minor fraying from where the badge has been cut out.
This cloth badge was part of a large collection of assorted militaria purchased some years ago. All the daggers in this collection proved to be of the period, and we have no reason to assume these badges are any different, however we have no expertise in this field and would be grateful for any information received.

Code: 50280