Hi Chris,
I've pieced together the words and have come up with:
MATER DOLOROSA JERUSALEM
ET ERIT SEPULCRUM EJUS GLORIOSUM
It looks to be a religious token, but I've not been able to find a great deal about it.
This PDF file has something similar (medal 248)
Translation:
Circular edge detected with loop coplanar
MATER DOLOROSA JERUSALEM
The Madonna with the hallowed crucifix in hand
Circular edge detected with loop coplanar
ET ERIT SEPULCRUM EJUS GLORIOSUM
The Sepulchre of Jerusalem
And
this PDF refers to it, but no picture (medal 295)
Translation:
Our Lady of Sorrows, copy MATER Dolorosa JERUSALEM / Procession of the temple, a copy of ET ERIT SEPULCRUM EJUS GLORIOSUM. Brass 25 mm, orig. raž. o. dr. hr.
Hope this helps.
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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.