The weigh of it confirms it's gold. The weight does not match any of the gold 'Pahlavi' denominations, but it the closest to the 5 Pahlavi, that weighs 40.68 grams and is 40mm in diameter.
The date is persian date 1338, which converts to 1959.
On the 'obverse', I can see arabic script that almost mimics the word 'Pahlavi', and what looks to be some sort of divided number, but what should be inscription doesn't look like digits.
I cannot either find this one in a catalog, making me think this is a medal of some sort. The couple on the reverse is Mohammad Reza Pahlavi and his wife, Farah. This was the year they got married.