Ha! I actually did the same thing! And of you tried to summon a greeter with it, it just got angry and said "there is already a greeter in this location!"
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gumbie tried handing it to me, putting it down, putting it in a cabinet, mailing it to me, trading it. nothing worked. About two weeks ago, she figured out she could put it in a Gift box and sent me a key to her house. I went and picked it up in exchange for 87 intrinsic objects. I thought it might vanish when I moved it to my Greeter Badge but it never did. You can see the image on my FB.
I thought I'd lost my Greeter badge, and then I resigned from the Greeter program...a while later I found it in my cabinet. I'd put it away! But I could never pick it up again. :(