
Searched auctions records unsucessfully but based on the date this might be a Piedmont Exposition medal. There were several medals made, some pertaining to Cleveland's appearance at the expo. Here is the excerpt from Wikipedia and a link to other expo medals.
http://www.expomedals.com/1887/The Piedmont Exposition of 1887, the first exposition ever held in Piedmont Park, opened on October 10.[6] The first day opened with 20,000 visitors.[7] Opening orations were performed by Governor Gordon and Hon. Samuel J. Randall of Pennsylvania.[2] Randall opened the Exposition with a speech on the success of the resurrected post-civil war south.

When his speech concluded, General Pierce M. B. Young and his men fired cannons to signal the opening of the events.
President Grover Cleveland walks past the Georgia Building at the 1887 Exposition.Exhibitors showed off a variety of items including works of art, local raw materials like manganese marble, and wood work.

Many prominent figures of the day were in attendance to see the displays. Governor David B. Hill of New York spoke at the event as well as President Grover Cleveland who attended with his new wife, Frances Folsom, on October 19.[9],[10],[2] Over 50,000 people were in attendance for Cleveland's speech.[7] The event closed on October 22 with a total attendance of about 200,000