These coins are supposed to be bronze (not cupro-nickel). I doubt it is silver but I guess it's possible. I would weigh it and have the silver tested.
Just my opinion, but.... Could it possibly be a die struck replica in sterling (die made from copying a genuine coin)? It does appear to have been joined to something else (perhaps by impulse welder?) like a cufflink. Any 'sterling' marking might have been stamped on that part. Since the half penny, along with all the obsolete denominations, was demonetized so many years ago, it wouldn't then be a counterfeit coin. Lots of copies floating around out there, many of them used for jewelry purposes.