Wow. Nice token! That's definitely going to catch Ardatirion's eye. I'm sure he'll be able to give you the skinny on it.
well, i found this to be (possibly) the inner part of a bimetallic Commodus medaillon. Since this is lead, has to be fake... I doubt they also made lead tokens copying medaillons...
I'm collecting since 39 years. Last years i spend my life online (...) also as a dealer, but i've never seen an ancient lead copy of a medaillon...if they exist, they must be extremely rare...
There are lead medallions. They're quite rare, but do come on the market every decade or so. Yours, however, is just a bad fake.