Interesting. I couldn't find it (though I looked only very quickly) but this is obviously a school medal. The date was evidently added later and, interestingly, it was "chiseled out", not punched, in order not to damage the other side.
There seems to have been some knob at the top, which would make sense for a school medal.
Serino is a town (comune) in Campania, Italia. Their
shield shows Sancta Lucia di Serino, as on your medal.
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