Well, it's not a coin, but exactly what it is I can't say. It presumably dates from the reign of Queen Victoria (1800's). I wouldn't call it a commemorative medal, because it doesn't really seem to commemorate anything. I also wouldn't call it "play money" because the design doesn't look anything at all like any British coin of the period.
The portrait is similar to the "young head" used on gold and silver coins, though the actual coins have the legend in Latin rather than English. "Honi soit qui mal y pense" is the motto of the Order of the Garter, and appears on several British coins, normally on a belt around the coat of arms. Three ostrich feathers inside a coronet is the badge of the Prince of Wales.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis