It's a "Magician's Coin". I can see in the second photo where the coin has been reamed out around the perimeter.............PMD. Chris
It's impossible from what I hear to have a 2 headed or tailed coin as the upper and lower dies can't fit into the opposites slot . I need a clearer pic of the side , but a seam is there somewhere . It could even be machined for one side to have the interior removed so the other side can slide into the coin .
definitely a hollowed out coin with another one that was made smaller dropped into the hollowed out coin .