It is what is known as a bread token or Brodmarke in German. They were issued in 1816-1817 in the German town of Elberfeld during a severe famine with the intent of both feeding the public and discouraging bakers from selling adulterated bread at a profit.
Your example is a 2 bread (II BROD) type. It is struck off-center and from rusted dies.
The reverse reads ELBERFELDER KORNVEREIN and the obverse would read II BROD.
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