Lead bailseal turned necklace?

[Dig-MV]

Found this at a colonial site that has produced countless pre American coins and several U.S. Ones as well. Have no clue what I'm looking at. Seems old and look to be lead and has a hole on top so I'm thinking necklace? I'm stumped so anyone out there with info please help. Thanks also I know I spelt bale seal wrong but can't edit the title

 

[gunsil]

I think you are correct, Wolfie!

 

[Bruce R]

Call me stupid, but what is a bail seal exactly?

 

[Tony in SC]

Sometimes slaves or hired workers were issued tags to put on their bags or bundles to keep track of share? Just a guess. Tony

 

[jan nielsen]

World's Largest Russian Flax Bale Seal Database Again look eight down.;-) similar to yours.