This item is only given to actual Tamahagane Clan members. It is a status symbol that shows they are a member of the clan, and not just a person who works with them.
Members of the Clan are typically given this pin usually when they graduate from Chūgakkō (Lower Secondary) school. It has also been given to adults who after years of service to the clan are brought formally into the clan.
There is a pinning ceremony in which the person is given the pin and a Tamahagane Ta-W1-1a - Katana with their name engraved into it. Tradition requires that the individual upon receiving their pin must first stick it into their forearm and draw blood. They then must take the oath of loyalty while holding both to the presenting clan member.
“By my blood and this sword, I do swear my loyalty to the clan. I will uphold the ideals and standards of the clan, and act in a manner that will bring honor to the clan. I will shed this blood to defend the clan.”
It is a twenty-four carat gold pin that can be worn on a lapel, or tie. It is is formed from the clan symbol.