I got it for free in a recent order of mine. No idea if it's a fake coin but I am sure its of minimal (negligible) value. It's tiny, smaller than a $1 US gold coin. I seriously doubt this is gold, since it was a freebie coin -- but I am clueless. I can't remember now who sent it to me since I get so many coins in the mail, so I can't ask the sender.
I had one a long time ago. They were made for jewelry and such from what I gather, but can say for certain. Mine was 14k gold, but a lot are plated or base metal.
Still, if it contains about $25 worth of gold, it's not a bad freebie! Or are there replicas of the replicas?
As doug444 stated, "replicas of the replicas." These were produced for use in both costume jewelry and for Mexican wedding ceremonies. For example: A dozen or so of these tokens come in a little gilded case and are presented to the bride by the groom during the marriage ceremony. I replaced these tokens with precious metal coins when I married last year.