Dana,
While this item is of course interesting, I think it rather strains the scope of the regular discussion topics here, which is of course European arms & armour. There are indeed times when clues to motif and decoration on arms may be found under nusimatic or heraldic sources, but those are typically limited. Trying to recheck my references to find a match was unsuccessful, I was so sure I had seen something like it, but some of the images turned out to be old coins. The reason I mentioned heraldry is because often various charges or devices often perch atop the main field or shield.
I think your best bet would be a query to specialists in those fields as often the themes and images on medallions etc. are often widely represented on coins and heraldic iconography.
This seems similar to any number of representations of these kinds of items I have seen in books on chivalry, heraldry, medieval history etc. The letters in the surround are best classified by linguists, or by matching with examples of various descriptions or examples online.
Sorry to not be more help, but did not want to leave your post unanswered.
All the best,
Jim
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