Unclear Date - Research
The collector John C. Downey lived from 1926 to 2005, he retired in 1988.
So it may be both, 1955 seems more realistic.
Allan D Telford lived from 1924 to 2003, so both is possible too.
Ok, we don't know more for sure, if anyone sees a similar J.C. Downey - label from the 50's, we may decide for 1955 or otherwise for 1985 if a similar 80's label appears.
Are these labels been written later while arranging the collection or directly after collecting and classifying?
I claim the "Sherlock Holmes"-Badge, ok let's say the "Sherlock Holmes - Junior"-Badge for that!
I would say the print of the label makes it much more plausible that it is 1955 rather than 1985; other labels from other collectors around that time look the same, while the print on a label from around 1985 looks a lot more modern.