Shawn,
It looks like a buckleof some sort, gilt side must be the front. The 4 studs or stand-offs that held the buckle away form the leather strap or belt so that the catch release could be operated. The belt must have had a metal loop(like a button shank) on one end which passed through the belt holes on the other end. Your item was placed on top to latch the position. You could take a uniform button put the shank through a belt hole and see if it lines up with your latch. Just a mechanical guess.
Jim