That would be my guess. Looks very much like a 1958 Olds accessory cap, but the Olds ones were stainless and also had no valve stem hole in them (they were attached with clips and the caps could be pulled away from the wheel for fill valve access without removing them). The center logo on this one is also similar but different. Probably a wall hanger, but a cool one, accessory aftermarket stuff like this was part of customizing history. I've got a collection and many are aftermarket near-copies like this one.
What "squablow" said. Probably why you don't see many 57-58 hubcaps around, cause if you don't get the "clips" with them, you can't mount them. I learned that this winter at the Turlock Swap Meet this year. They're 14" anyway.
If you see a rusty wheel cover, it most probably is aftermarket. Most all original car makers in the 50's made their wheel covers out of stainless steel, so no rust.
It is cleaned up a bit and in its resting place. At least its saved from the pile at the scrap man's. I think theres only 70 or so left to go through and clean up.