first off, I am guessing this is not an original from 1853 and is probably gilted brass. My coin dealer gave it for free to me on my way out. it is in a 1940's or 1950's jewelery box. I think that this is not original to the coin. Anyways, any info on it would help. Also, I have a real 1/4 dollar gold but I have had it for years and it is not related to this. sorry for poor photos I am sending this post directly from a phone and can not rotate or crop.
What was your first guess??? Did you have it tested for gold content?? It just seems shiny brass composite!
I am aware it is probably not original. My coin dealer said it is a token/souvenir from the late 1800's, and it is not gold. is this correct?
No, and neither did my coin coin dealer he just "knew". I think it may be 9 Karat gold based on what I read? Not sure though.
The reverse is common to many modern replica tokens. I believe most are simply gold plated, but some might be low karat gold.
Some of the fakes were made of (mostly low carat) gold. If I remember correctly, a few fakes even had more gold than the originals. But those with gold tended to be the early fakes, not the later ones as I feel the OP's is. The only way to know for sure is to have it tested. Calculating the density could also provide a means of determination if one has access to precision measuring instruments.
Mike Locke, who's an expert on the subject, may have some info on his web site. http://users.scronline.com/lockem/