Is this a good buy?

Doesn't look medieval to me. I'd guess early modern, somewhere in the 17th-19th century range, and likely a token.

 

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It doesn't look medieval to me, looks more like a late 17th century token. Looks to me to be possably Dutch or French, somewhere around there.

 

On the obverse you can read: STADT. M - VNSTER.

So it should be 1 Pfennig from the city of Münster (German state). No date visible but the design matches the 1600.

Nice coin, I don't know about the value, but I'd have bought it for 3-4 USD.

 

Germany. Munster.