It’s a little worn, but it’s a great old piece, antique in fact. It’s dated 1900 and it’s in a bezel. The reverse shows the wear but I consider that normal for its age. The reverse side is a campaign advertising peace.
I have one, not the same as yours as it's around the size of a quarter and it's from Sterling Mfg., early 1900's!
Randy, it’s called a Ferrotype photo and after a little research @alurid is correct. It’s McKinley and Roosevelt in 1901. A Ferrotype is also known as as a Tintype. A Ferrotype It’s a very underexposed negative image produced on a thin iron plate. It was made darker by lacking or enabling and coded with a collodion photographic emotion that process made the dark background appear to be more positive in coloring. This underexposed process meant that a photographer could Prepare, expose, develop, and varnish a Ferrotype Plate in a few minutes. Back in those days iron was much cheaper than glass. That process was first patented in 1857. Because it was a very thin piece of iron to which the negative was applied the public at that time. Prefer to call it a tin type. it was called that because it implied a cheap tin like feel of the material. Because it’s made on a thin sheet of iron Ferrotypes Often show evidence of rust or blisters or the applied enamel has started to lift off. Hope that helps to explain it.