I want to be sure we are talking about the same. Most likely your compressor has only one safety valve however since it can come with two I want to be sure which one you are referring to. The first will be located on the bottom or back side of the pressure switch. The second if installed is located on the tank check valve. I assume you are referring to the one on the switch correct?
If this is the case then please let me know exactly where this cap was located. You stated it was located under the relief/safety valve but it's not part of the valve correct?
Is it part of the manifold attached to the bottom/backside of the switch?
Although the pic is a generic switch it will help if you can tell me if the location A or B is where you think it came from.
The black line is there because a lot of switches have a flat bottom and some have a small cap to seal off an additional port/ports.
Most switches are not produced by the compressor manufacturer. Because of this many are used on a number of different models as well as a variety of compressor manufacturers. To accommodate as many as they can switches sometimes have ports that are sealed off using a cap or large allen head plug when the compressor does not utilize all the options available on the switch. This is most likely what the cap is for.
Still I want to be sure so again take a look at the pic and if possible give me a general location.
I'll be waiting your reply.
http://www.hitachipowertools.com/product/files/pneumatics/compressors/EC12_E4_BD.pdf