Coin or token?

Hi colleagues,
Could you please help me with ID of this coin/ token?
All I know that it was bought in Far East at the beginning of XX century.
In my opinion, it is a token but to whom it belongs?
It will be great to hear your opinion.
Thank you in advance!

Best regards, Alexey

What is the metal?  It looks to be silver, perhaps nickel?

Unfortunately, I can’t say what is a metall, because I haven’t held it in my hand.
I only have a photo of this