I thought it might be some sort of seal, but the letters would be reversed for that.
I'm guessing the diameter to be about 2.5cm? Could it be the face off a ring maybe?
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I'm not an expert in any kind of coins, but I reckon I'm good at research and will do my best to help. Feel free to tell me my identifications/valuations/gradings are wrong. It's the only way I'll learn.
in ancient times, when they closed an important bag, they tied its neck and than sealed the tie by pouring fused lead into the ropes and than stamp the hot lead with the owner or sender stamp. I don't know if I am clear. In french they call it "sac de plomb" If I didn't made myself clear, google this term in images and you will see.
