Can Anyone Translate These Characters On Medallion?

Looks like a stylized "Longevity" in center but my interest is the outer 8 symbols. At first I thought they might translate to the words for the eight trigrams, but that didn't pan out. Then I thought a few symbols might be Kuang Hsu and perhaps Boo as in Chinese money. I thought one other is very close to Qing as in "Great Qing (Ch'ing) Dynasty, but my luck on my own has run out after 4 days of research. I tried Chinese, Mongol and Manchu script generators and dictionaries. Now it's time to ask for help. If it's any assist at all this side is like Kann B-17. The other side is no concern, and it is not Kann B-17 but I will say it suggests to me a possible connection to the Chinese New Year- but that's just an educated guess. Some sort of fantasy medallion or souvenir or modern concoction but I'm most interested in learning the meaning of those eight characters.
I should also add that I have translated the Chinese side of Kann B-17 and I am somewhat familiar with Chinese coins in that they often have Mongol or Manchu words in legends that mean the same thing as the Chinese characters. To that end I did try to see if these unknown symbols match up with the Chinese side of B-17. I did not have good results. Here are the words I believe are on the Chinese side of B-17:
10, 2, Kuang, Hsu, Year, Made in, Official, Machinery, Bureau, Feng, Tien. And of course Kann describes this as a Fantasy Fengtien medallion, dated 1895. I thought the unknown side of this piece might be related to some or all of these same words but I'm not getting a good match.