It appears to be an American Counter. Produced during the mid 19th to early 20th century for gambling and other purposes. The Standard reference for these items are the 5 books on American Counters by L.

Fauver.
Your item appears to be corroded and damaged. If you can, please indicate the date (if any) on the obverse and the full inscription on the reverse. I am unable to make it out from the digital image provided. It may then be possible to give a fuller attribution.