Easier than that, 1/8" drill bit will do the trick, right through the middle of the rivet. That's what I used to remove 1000s of rivets when I restored vintage race cars. If you want a lot of speed, use a drill that runs off of an air compressor.
You could start with a smaller diameter if you think the 1/8 is too big.
Are you free handing or in a drill press?
I don't want to, though I'm pretty confident with my skills after 35 years of construction and mechanical work, have that once in a while slip that would damage the product.
This badge is probably the only one I will find.
