I think you are asking the wrong person really, but, for what it's worth, here are my thoughts;
Firstly, I think it is very important to understand that the IY Companies that actually fought in South Africa are a different entity to the Home Service IY force.
Generic IY buttons were just that, they did not have dragons on them, simply just the words Imperial Yeomanry or the letters IY and a crown above.
I suspect that they would have worn the letters IY along with their company numbers, so just with the numerals on tunic shoulder straps and possibly on their hats too, the latter, even on the rosette, but, I have never seen an example and I doubt if I ever will either.
With regard to the MIY cap badge, I am not really a collector of such things, although, like very many schoolboys, I was once.
The MIY cap badges, were die struck, in both gilding metal and white metal, were, certainly from memory, at least, only officially approved after the Anglo Boer War, but, I think that they were actually worn by the MIY from 1901 until 1908, I would have thought, those produced after 1903, would have had a slider, those made before would have had two copper loops.
After 1908 the Home Service IY became part of the Territorial Force and the title Imperial was no longer used.
I am not sure that you would find an erased version of the original MIY cap badge made using the original dies with the letter "I" simply removed, I do know that the Glamorgan Yeomanry did that, they simply filed off, the word "Imperial" these are both distinctive and have not been copied and would be a very safe buy.
There are lots of completely spurious examples and you should take great care before parting with any money.
I would think you would have to be thinking in terms of very little change indeed, from a hundred pounds, or so these days, I mentioned schoolboys before and the problem is, they have grown up.
The sweetheart broaches would actually be somewhat scarcer and be rather more valuable, in particular, those actually made in bullion rather than any base metal.
None of these would have been worn in South Africa though.
If it is the MIY you are interested in, I would get a copy of The Historical Records of the Yeomanry and Volunteers of Montgomeryshire 1803-1908 by Colonel Williams if I were you.
chebba wrote: Thank you, Frank.
Re buttons, I think my best plan, therefore, will be to look for generic IY items and feel myself very lucky if I find any with the correct dragon on them - i.e., the one with all four feet on the ground. (Unless anyone wants to correct me on that, but I'm 99.9% certain, from copious research, that I'm right.)
Re badges, the cap and sweetheart badge appear to be the same throughout the Montgomeryshire IY. However, of the several which are around for purchase, I am concerned that I buy a period correct original and not one which is a re-strike being passed off as such. Apart from my own instinct, have you any advice on how to tell, please?
TIA again
Jo