It's supposed to look Roman, but it's much too round and evenly struck, so my guess is late 20th Century/early 21st Century fantasy.
A modern struck counterfeit of a medallion of Commodus. There may or may not be an original that it copies.
Fine, nobody believe me... The obverse is from a medallion of Commodus, the reverse a medallion of Antoninus Pius. The images are from the plates of the 1874 British Museum catalog of Roman medallions. They're pretty rough, its amazing how far technology has progressed