Yes, a tombac... more specifically, a White-Tombac (silvery brass) button which was spun on a lathe. Tombac is a version of brass which contains about 80 percent copper and 20% zinc. Adding just 1% of Arsenic (which is a metal) to the molten alloy changes the metal's color from golden-ish brass to silvery. Your spun-back White Tombac button dates from the latter-1700s into the very-early 1800s. See the button-dating chart, attached below... but note, I disagree with the chart's very short (15-year) time range for spun-back Tombac buttons.
Canada manufactured Standard (golden-ish) Tombac 5-cent coins during World War 2. Here are photos showing the 5-cent 1942 Tombac, and a 1998 White-Tombac coin from Romania.