This is an original badge from the 1963 Masters Tournament that is autographed by the winner Jack Nicklaus. The 1963 Masters was Jack Nicklaus' 1st Masters victory. PSA has authenticated and graded both the badge and the autograph, and this badge has received the exceptionally high grades of PSA 8 Near-Mint for the badge and a PSA 9 Mint Autograph grade.
Even unsigned, not a single 1963 Masters Badge has received a grade higher than PSA 8 (it's a Pop 4), and this one contains a PSA 9 Nicklaus autograph on top of that. Simply put, this is almost certainly the finest Jack Nicklaus signed 1963 Masters Badge in the hobby.