Enamelled coins were fashionable in the mid to late 1800s. Traditional vitreous enamelling is a long and complicated process, involving firing powdered glass in a kiln. Each colour has to be fired separately, so items with multiple colours are harder to find. Exactly how they managed to enamel two sides of a coin at the same time is also a complicated and mysterious process.
The coin itself is usually ruined, as a collectable coin, in the process of making an enamelled coin. Much of the coin is carefully engraved away, to create a well for the molten enamel to sit in. Its only value is as a piece of jewellery. A little tiny piece like this isn't as impressive-looking as an enamelled halfcrown, but it does reflect the skill of the enameller in colouring the fine details.
It's value will also depend on whether it is authentic 1800s enamelling or a relatively modern reproduction using epoxy resin. A jeweller or antiques appraiser would probably have a better idea of market value than a coin dealer or coin collector. But I don't think we're talking hundreds of pounds, in any event.
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