MAMucker
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Interesting ... I think Kray may be on to something with the escutcheon plate .... did you post in the “what’s it” forum ? May get some more reply’s there especially from all the metal detecting members
Those drill marks and conical shape could be an impression from the threads of a screw digging in and wallowing out the hole while a drawer or cabinet door pull was loose or possibly from installation. It looks like a backing plate for such or similar application IMO.The hole is cone shaped and the wall of the hole has drill rings. IDK. If it is an escutcheon plate, the wide end of the drilled hole should be on the flat side.