It looks mediaeval, though aspects of the style and fabric suggest to me it actually isn't. My guess would be a "renaissance group" item, such as those made by members for the Society of Creative Anachronism. They make them as demonstrations of "how coins were made in mediaeval times" (like this) and to use as tokens at renaissance fairs. I think the legend on the other side reads "SM ON TI TU" - perhaps "Simon Titus"?
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
This pic of some Society of Creative Anachronism coins shows some with the same reverse: "TITUS MON" for Titus the Moneyer, especially in the left lower quadrant.
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