Apollo 15 - 3 1/2" - Cape Kennedy Medals

This is an intriguing Apollo 15 patch. It appears to be of vintage issue with a cloth back. It is fully-embroidered. The owner said it was 4" in diameter but I am skeptical, I believe it is no more than 3 1/2" in diameter. The red chevron has black outlining. The "XV" does not appear to be rendered, but treated as crater detail instead. There is also a version of this patch with no black outline on the chevrons.