Is this some kind of token?

[Mintberrycrunch]

I found this at a street tare out. I have no idea looks like it was gold plated at one time. Poker chip? Game piece? It's not a button it only has the one hole. Thanks for taking a look HH

 

[Kurios1]

The green "goo" on the obverse almost looks like some form of adhesive matter? Trying to remove that stuff may provide a better idea if there's anything on the back side to help ID the item. Nice to see you jumped on that tear out. Well done mate.

 

[Beccarpb]

It reminds me of old "Gypsy" Jewellery, bracelets, or even the decorative coins on scarfs.

 

[Mackaydon]

There appears to be letters and maybe words in a circle outside the crest.
Can you read them to us?
Don.........

 

[Mintberrycrunch]

There appears to be letters and maybe words in a circle outside the crest.
Can you read them to us?
Don.........

I really can't make it out looks like OIO?. Here's a better picture thanks for checking it out.

 

[nhbenz]

I think it was a fashion button on which the back (with shank) went missing, or maybe just a shank which broke off, taking a chunk of the front with it. The IOIO pattern around the edge (with two I's at the "corners" and something else at the top, bottom and sides) is just decoration, with no words. Am I seeing it right that there is a lip on the back? Looks like stamped brass, gilt or plated originally, as you mentioned.

 

[Subterranean]

It appears to me to be a center seal for a badge or medal. They were soldered on and had small indentations on the back to absorb the heat during the soldering process. That indentation could have just corroded through the seal over the years in the soil. Sub