Continual stomach distress is keeping me from sleeping... so I'm trying to distract myself by reading the What-Is-It? forum. To me, the letters on your find are a V and an R, superimposed as a sort of logo, as is often seen on 19th-Century buttons, and some tokens. Those two letters on your find are written in a very distinctive style that was popular from the 1870s into the early 1900s. Here's a photo (below), showing similar-style letters P and E, superimposed, as part of the Ponds Extract Company logo on a cold-cream bottle's screw-on lid. It is from the 1920s.
Examples of superimposed/intertwined-letters-logos are a business-name, a military Militia unit's name, school-names, veterans' organizations, and many other categories.