The obverse looks like it's supposed to be for Empress Ann of Russia, but I very much doubt she actually issued anything like that. The reverse looks a bit Masonic, and makes me think of the HRE. It is certainly way too old (and weird) to be a modern fantasy. Realistically? With nothing remotely resembling a date or a denomination? Almost certainly some kind of a jeton (probably German, like most of these are).
I am GUESSING a contemporary fantasy or later, and probably intended for use as a gambling counter or a jeton. At least, that is what the style and fabric of this piece suggests to ME.
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