Big strange silver coin in a Kentucky field.

[Deno]

We started out hunting an old house built in the early 1800's, I found 2 Indian heads in
about the first 10 minutes, a 1905 that I managed to put a big scratch on and a nice
looking 1895. I gave the owner his choice and he took the 1905. The yard was small
and we hunted for about 2 more hours with no luck. The owner told us he had plowed
up part of an old foundation in the back field and we said show us the way. It took us
a little while to find the debri field and then it was on. I found 2 thimbles and a couple
of belt buckles. Weaver found this strange half dollar size silver coin made into a necklace.

 

[ColonialDude]

Oddly my first thought was civil war hat badge...no clue why. I did a google search before reading the thread and found this:

http://www.relicman.com/miscellaneous/A1InsigniaSalesCatalog.htm