The original item is a copy of an Egyptian Magic Coin token.
I have seen versions of this item for years on Internet coin and metal detecting boards,
on Ebay, at coin shows, and even in movies.
The coin or token shows Egyptian symbols on both sides, one side has the sphinx and pyramids,
the other side has a pharoah and various hieroglyphic symbols.
They have been around since at least 1905, when a listing for one appeared as part of a
watch fob in the 1905 Sears & Roebuck mail-order catalog.
All of the ones that I have seen are 32mm and brass.
Some have loops, some don't, and some have loops broken or filed off.
See my website under "Egyptian Magic Coin Token" for more information on these items.