PSV Bus Driver Metropolitan Area no deposit licensing badge c1935

A rare original circa 1935 period PSV London Bus Driver's badge, licensing number "N72525", this with an extra small 'N D' (No Deposit) flanking the Metropolitan Traffic Area "N', held in a brass holder the reverse with single slider fitting and maker's logo "Metrovick Traffolyte". Good condition, colours with minor fading.
Diameter 50mm.
During the Second World War only, the deposit was suspended on the Public Service Vehicle Licensing badge.