It would be easy to verify if it is gold. Even a scratch test can hardly make this item worse. That being said, it is so badly damaged I cannot seen any trace of a design, except for the beading around the edge. So if it is gold it is only worth the metal value. If not gold, it could just as easily be a token, and in that condition it is just a lump of metal. Possibly a soak in acetone would reveal some design features.