Enameled button

[dieharddigger]

Found this a couple weeks ago at the 1860's college. Just wondering if anyone knew what it was used for and an age on it. No markings of any kind. I thought maybe a type of cuff link?
Thanks in advance, Steve

 

[DrGrip]

Possibly a lapel pin. Do you know if the college had any Naval history to it?

Grip

 

[One mans trash...]

Made like a collar button. Pretty fancy. Maybe for the sailing club. The fouled anchor is specifically nautical, as opposed to other anchor symbology.