Interesting token.
Albert, King of Saxony, ruled in the latter part of the 19th c.
I found a reference (in German) which may shed some light on this token: the Albert obverse is listed as #25, and the reverses indicate that there were two obverses (#25/#26) used with reverses that correspond to various trades and crafts. The text indicates that they were struck in gold, white metal, and bronze, with or without edge reeding, etc. The watchmaker reverse on yours is not listed here but it would not be out of place given Saxony's reputation for fine watchmaking.
The text attributes these issues to Christian Lauer of Nuremberg, a very well-known engraver and maker of jetons and medals throughout the 2nd half of the 19th c. which fits the Albert of Saxony timeframe as well.
https://books.google.com/books?id=e...m%22&f=false
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