The only original version of this particular 548th BS design that I have seen are silk-screen on canvas. I can't see enough detail to tell if this one is a canvas patch though. If it's decal on leather, then the decal is replicating a silk-screen effect which would be a red flag to me. The give away that it's silk-screen is the colour 'bleed' - in silk screening multiple printing 'passes' are made with a different colour used in each pass. The screen that the ink is forced through rarely aligns exactly on each pass, hence the minor inconsistencies from patch to patch. If it is silk screened then that is virtually impossible to replicate by hand (I can do a passable job but still easy to spot if you know what you are looking for). I've not seen any replicas out there that even come close to the genuine effect. The below are two very good examples of 548th BS originals that have never been attached to jackets.
Interesting thing that I have noticed is the 'copyright L.S.' mark on both patches. I've checked images of other similar patches that I have and while these are missing on some patches, generally those have more wear than the below and the patch on the jacket in question. Not definitive but an interesting observation.
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