Nice find!
I have not seen two badges before. Odd that the serial numbers are so far off from each other.
As far as the lacquer goes...................it depends on how much work you want to do and how original you want the condition to be.
If you want to leave it as original and unaltered as possible (along with its mojo), than I use this three step process on gloss lacquer finishes:
1) Thoroughly clean the shells with Windex and a microfiber towel, than buff with a "normal" terrycloth towel. This gets all the surface dirt, gunk and grime off.
2) Apply furniture polish using a microfiber towel. Buff off with a microfiber towel, then buff again with a terrycloth towel.
3) Apply a high quality car wax, like Turtle Wax Carnuba with the included foam applicator. Then buff off with a microfiber towel, then buff again with a terrycloth towel.
That will get them looking as good as they can. If you want to be more detailed and have them lose some of their originality (and mojo) but would make them look like new again then you could very lightly scuff sand the flaking ares and re-paint with black paint (assuming the factory lacquer finish is opaque and doesn't show the wood grain through it). Then apply several thin coats of satin finish polyurethane on the re-painted areas. Then use 0000 or 000 steel wool to smooth out the polyurethaned area(s) and then finish it off with a couple coats of gloss polyurethane. You may want to re-do the whole shell with the gloss coats (and not just the affected area) to bring back a uniform shine. Same would go with the bass hoops. Also, some new Silver Sparkle inlay would look great on those hoops!
Whatever you decide to do.................Good Luck! And, you know how we love pictures around here!
V