Strange medallion

[17GoCubsGo44]

Hello all! I found this medallion today and an baffled by what it is. It has the letters "W.E.H." and a worn off part that might say "CP" it's about the size and weight of a cent piece. Any help would be greatly appreciated!

 

[bradyboy]

need better pics, images are too dark
also, it looks like there is a rim on one side
Thinking it might have held a picture
IMO
Brady

 

[nhbenz]

I believe the WEH is from the maker Walter E Hayward, and instead of CP it is likely GF (Gold Filled).