It's a card game counter, as others have said. They're imitating the British gold coin known as a "guinea". This particular one has the obverse more or less correct, but the reverse legend is a jumbled mess - a mess which I believe encode the identity of the company that made it: "C.W.B. ET CO" for "CWB & Co." and "B.I.R.M." for Birmingham.
Genuine gold guineas look like
this.
They usually were produced with a gilded finish. They were never, of course, made of solid gold.
Companies could face severe penalties for manufacturing "evasions", imitation coins that too closely resembled the real ones, so they tended to not make their names too obvious for the king's men to decipher.
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