Not a button. It is "skid-disc" from the bottom of antique luggage (such as a carpetbag), or from the bottom or sides of a trunk. Note its "construction"... a slightly domed stamped-brass disc with a "lead-filled" back and a short iron nail for attaching it to the luggage or trunk. It's made of brass so it won't make a rust stain on the floor or carpet when wet. It is similar to "decorative" tacks for furniture upholstery, but is larger. Some are "plain" and some have rings (like yours). See the photo below.