I have no idea what this is or what it might be worth. One side only has denticles. The other appears to have 4 cursive letters (IUCC). Slightly larger than a quarter in diameter. Any thoughts?
Just throwing out some rough ideas since I have no idea what it is. It looks like it was made to be engraved on one side. I think it looks like something that was made in the 1820's-1850's in England based on the lettering style and border and what I can see of the planchet thickness. But who knows.
I think the time period might be a little later if it was made in the US (the cursive style seems to match some early love token styles, circa 1840-1870). Possibly because England was largely setting the style of American jewelry at the time?
It does appear to be die struck, and perhaps the initials indicate some fraternal organization? Dunno. I agree with @Oldhoopster about the blank side possibly being intended for engraving, and the general age of it. It has a strong late-19th century appearance to me. Immanuel United Church of Christ, perhaps? That's just one possibility. Except I'm not so sure it says "IUCC"? Looks like it could also be "LUCC"? Cursive monograms and initials like this sure are tricky.
I've come across a lot of silver plate also from the late 1800's that are monogrammed and very tough to figure out.