First, its not military. I'm not sure exactly what it would be. At first I agreed that it was probably a cremation tag, but it kinda looks like silver and it looks like its been worn on a necklace for a long time.
I believe these are generic tags that could be used for a multiplicity of identification purposes and that the 'M' logo represents the company that makes them (as unstamped blanks). Note that the format of the number is different on this one (seems to be three pairs of digits) and that a different typeface punch was used.
One thing for sure is that they aren't military medals.
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