Found at old Mining site.... No idea...

[krednosreg45]

The top little piece says "Schillings Best"

 

[RichieRich]

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The top little piece says "Schillings Best"

Thought it may be a spice cap. I couldn't find any images to match

 

[creskol]

Thought it may be a spice cap. I couldn't find any images to match

That was my initial thought, too.. I know there was a Schilling's Best Black Pepper.

 

[DCMatt]

Here is an 1891 document for various merchandise using the trademark "Schilling's Best". Apparently, they made all kinds of stuff... I'm guessing you item is part of a bottle stopper?

Old Series Trademark No. 1920 · California State Archives Exhibits