Todays finds... token? and a button

[ATpro5]

Went to the flea market today... Grabbed these out of the 50c bin. Got a great seal button and some kind of token thing that im trying to get info on. It has 8 star R c.e.b. Stamped into it. Its about the thickness of a penny but barelllyyy smaller. It has a thick black patina on it which leads me to believe it has some serious age. So what do you all think? Coin,token,lantern turn knob? Opinions! And any info on the button is appreciated also

 

[ATpro5]

 

[hogge]

Great seal button. Probably made during "peace" time. (I believe). Eagle is facing olive branch.