This seems to be an Officer's Jewel from the Improved Order of Redmen. The Redmen have an interesting history and a tie to Sons of Liberty, you know - the original Tea Party.
The construction is difficult for me to understand, it seem cast and maybe the hollow was to save on cost of materials or to keep the cooling and shrinking after the casting from destroying or distorting the final product.
The members seemed to hold offices called many things including warriors and braves.
Improved Order. It in unclear to me what it was improved from or what sort of improvement it was.
I'm not making fun here. The whole fraternal society world is strange and has obscure names. No one really know what Odd Fellows means or for that matter, in what way are freemasons free? My guess on that one is that it is a corruption of the french Frere Macon - which means brother mason, but no one can say for certain. Seriously.
This seems to be that guy in the Indiana Jones movie that takes peoples still beating hearts out to show folks. I don't know what that has to do with the IORM, but you would have to be Brave- I guess. Or maybe it is an alien (again).
This jewel is "2.5 by "1.5 and weighs 18 grams. It is fine silver (?).
relative amount I paid for this - low
As of 3/3/14 the silver scrap value works out to about $19
However, none of these are for sale.
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