Lesser Period indeed
Beats Imperial anyday--OWCH!!
This is one of those mini flags most likely used at Parades and such. As for a value on this one? possibly about $100? give or take a few $$$ I have one banner myself and only because its a very early one also with hand-sewn circles. Mine is dated either 1923 or 1925? Hard to tell because the date os so faded you cannot se it if pics taken. Anyway, yous is a nice piece and i'd say along with the bit of history you can give it and that it has hand-sewn circles-that yours is an earlier piece and probably mid to late 1930s manufacture.