Old Time Radio "Toy"

I recently purchased a box full of "stuff at an auction here in Southern Oregon.

Amongst the "stuff" is a brass-plated pin-on button about the size of a half-dollar. The front depicts an eagle, a waving flag and the letters U.S.A. One the reverse, just below the pin clasp it reads: "1940" below which is "OFFICIAL NUMBER", followed by "A 72994", then capital letters "R" and "A", separated by an oval symbol underneath crossed keys. Furthermore, this button is made of two separate pieces which turn within each other. One outside edge is stamped with various alphabetical characters, in random order. The other outside edge is stamped with the consecutive numbers 1 thru 26.

I have been told that this button might be a "prize" that was sent to children listeners of certain old time radio cowboy or mystery programs. Furthermore, the letters and numbers stamped on the outside edges might have been "codes" that somehow translated into words or sentences.

I will appreciate any information you might be able to provide about my new found "toy" ! Thank you.

Most radio premiums from that kids' adventure show bore the initials "RA" for Radiio Annie" or "ROA" for Radio Orphan Annie. Her adventures were based loosely upon those in the long-running comic strip by Harold Gray. The sponsor of the radio show, Ovaltine, dropped her for a new hero, Captain Midnight, in 1941 so thereafter her show was sponsored by Quaker Puffed Wheat and Rice. Ovaltine, a kids' chocolate drink, is still sold today.

In that era, most radio premiums for acquired for a small amount of money, i.e. ten cents, and proof of purchase, such as the label from an Ovaltine jar, which the kids would send in to the sponsor. In this case, once the kids got their decoder pin, they could translate short messages from "Radio Annie" which the announcer would provide occasionally over