It is similar to a Lead Bag Seal, if found here I would say it was a cloth seal. They were used for many different purposes, this one many have been for import duties. ie. used on a quantity / quality of goods entering the country.
My quess is a box car seal and it appears to have been smashed down on a old coin because of the stars imprinted on the backside .I attached a picture of the box car seals ive found and have a bunch more .Ussually they have the info from the box and and the line it was on and also the train #
Thank You for the replies. I was thinking lead seal too. Looking at the rest of the stuff coming from that part of the field ( Early flat buttons, Draped Bust Large Cent ) I think PBK has the time frame right on.