this looks and feels like silver to me. i found a depiction of the reverse but the obverse was different other then that searching all the words comes up empty handed.
One side says ' our lady of Lourdes' as an Italian abbreviation. the other refers to Pope John Paul II (His title in Latin). The faithful or gullible would buy these at Lourdes ( a site of pilgimage supposedly for miracle cures) to take away a bit of holiness with them. Supposedly they were blessed by the Pope but the rules allow blessing by the truckload, so the amount of blessedness per unit would be pretty diluted. THey may be silver, probably 0.800 fine. They are quite common among Catholics in Europe.
The company that made these medals seems to be Maggi Coniature, see here (Italian forum post). Christian
Some useless (with regard to the possible value) additional info about the designer: Pietro Giampaoli was, for many years, chief engraver of the Italian mint. He died in 1998 shortly after his 100th birthday. His most famous design is the reverse of the silver 500 lire circulation coin with the woman's bust surrounded by city CoA's. Here are some of his works; I like the medals he designed for his family. One shows his wife and the then four children, the fifth kid got a separate medal with a madonna on the other side ... Christian
