It looks like late 19th to early 20th century vintage, maybe a veterans reunion flag. Charles' comment is interesting in that many flag companies of that period didn't know or didn't follow the details for making an accurate reproduction of an ANV flag. That is one reason the UCV (United Confederate Veterans) published their famous Flags of the Conferate States of America in 1907. Like Nick said earlier if it is indeed from that period and because it is linked to a CS veteran it could fetch a modest price at an auction.
Cheers,
mike