Yep. Ladies decorating themselves up with coins on festive occasions (weddings, parties etc) is traditional in many middle-eastern cultures. Girls that can't afford genuine gold coins buy cheap imitation ones like these. They usually came pre-holed for ready attachment to garments. We've seen plenty of "coins" like this on the forum, just run a forum search for "imitation Ottoman".
This thread has one with the same fictitious date (Year 1223/78).
I haven't heard of them being made and used as gaming chips, like the card counters in Britain of the mid-1800s, but I don't suppose it's impossible. The folks that made these imitation coins wouldn't really have cared what purpose you used them for, so long as you came back and bought some more.
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