Looks a token of some kind. It's a crude cartoon version of St. George slaying a dragon, as you'd see on a sovereign. But I doubt it was meant to fool anyone.
Usually if it is a magical coin the evidence will be seen on the rim not on the edge. They will cut one side out on a lathe out to the rim then cut a piece from a different coin to just fit inside the cut out. If there is a seam it will show under magnification on the rim not the edge. If that makes sense.
Wow!! I would have never known, thanks Homner for taking the time to school me, and everyone one else as well, Thanks Again
No, it is definitely not real. It appears to be a very crudely produced copy, probably for a magicians trick as mentioned earlier. Sometimes, higher quality pieces are made by taking 2 genuine coins and carefully machining them, then fitting the pieces together to create a same-sided coin. However, the original pieces this was modeled from were gold - and would have thus been quite expensive.
Yeah, maybe some kind of trick coin but not "Heads I win tails you lose" as who knows what are heads on that coin/token/jewelry piece/???