I found this in a dealer junk bin & know that it could easily be a jeton or fake piece made for jewelry. There appears to be a toughra on one side over interlinked ovals (looks almost like a pair of spectacles), while the other side has some Arabic text, ending with the date 1123 (AH1123 = 1711, from February 19 to February 9 of 1712). I have no idea what it might be or what it might be worth (even holed). Anyone have an inkling?
A not-too-similar coin was tentatively ID'ed as a fake that had been made for jewelry: http://www.forumancientcoins.com/gallery/displayimage.php?album=1501&pos=0
So, this appears to have a Constantinople mint mark, but the date of AH1123 (1711AD) doesn't really make sense. That falls between the ascension dates of Ahmed III (AH1115) & Mahmud I (AH1143).
The hole does reduce the value significantly as many of these were holed to be used in jewelry. I checked my catalog. Can't find it.
Of course, the hole reduces the value to only slightly more than the intrinsic metal value. I'm mostly trying to find out if it's got any metal value at all.