In Texas there are two Morgan clubs, one based around Dallas, the other around Houston: the Morgans on the Gulf Morgan Owners Group.
Initiated in 1985, it has issued a series of similar looking badges, with protruding Morgan wings, basically half circle, with waves inside.
Even in 2000 only, for the a club's 15th anniversary, appeared 4 varieties. Offered here is the variety with grey  rim and Morgans wings, medium blue waves and light blue sky.
The badge is in perfect condition.