This is a badge given to members of the press at the 1983 opening of the New Fantasyland. Was a turning point in Disneyland history, seeing the end of part of the park as Walt knew it. This badge is beautifully crafted. Later press badges were not so ornate. Compare the badge for the 1998 New New Tomorrowland:
An interesting comparison, from the end of the classic era of Disneyland, and the dark era of decline that lasted for so many years.