According to the text on the medal, it was issued to commemorate the 50 year jubilee of the Great Duchy of Luxemburg Agricultural Society for which an exposition and competition was held from 7 - 15 september 1895 in the city of Diekirch. The medal probably was given to the exhibitors or other people involved as a commemorative.
This type of medal is very common although this is the first one I see from Luxemburg. I expect the value to be US$ 15-30, a bit more if it is made of silver, depending on the weight. On the photo it looks like a silvered copper or bronze medal as the base metal seems to shine through on the worn spots. An easy and non-destructive way to find out if its silver or not is to determine the specific gravity.