Wallhangers,
Your find is the outer wreath portion of a two-piece stamped brass Tongue & Wreath buckle, dating from the 1850's. The markings of
** S.H. DOUGHTY ** NEW YORK, is for Samuel H. Doughty.
Samuel H. Doughty was quite the dealer in belts, women's clothing, and fancy goods, as well as vests and leather goods. I've found him listed as early as 1848. He was also an exhibitor at the great New York Exposition in 1853-1854
Samuel H. Doughty even held some U.S. Patents a couple decades later for women's clothing accessories.
Buckles of this style were very popular, being worn on cloth, elastic, varnished, and leather belts. Women and children were the principal market, yet men are also noted to have worn the smaller fancy buckles as well.
CC Hunter