Yes, this pattern was used in both the Rev War and 1812. If there's no backmark it suggests it dates early, but that doesn't eliminate the soldier who wore it having fought in 1812. I would decide what war based on what was found with it, and if you're up around Niagara I would strongly lean towards 1812. It's very possible the same uniform/ buttons could have been worn in both wars but that is something we'll never know, so you just go with what makes sense. I'd say the button is worth maybe $100 or so, used to be more, but things have changed over the past 10 years.
PS: I have actually found the same one, or very similar, twice, but neither is anywhere close to the condition of yours which is either a water find, or from very forgiving ground. Seeing you have a trade axe maybe you're more North East.