I think the right side is upside down but it looks like the first Formosa Silver Coin about 1837.
It resembles a true coin. Sure the OP item is no doubt a knock-off, but I wouldn't call it a fantasy.
It's shown in Kann and much is written about the First Chinese-Made Dollar.
A genuine looks about the same, is 42mm diameter, 1.5mm thick and weighs 26.8g