It's actually part of a set. Collectible silver rounds. The obverse is made to look like the Chinese Silver Panda coin, but I don't think these are actually minted by the Chinese government. That would be ironic, wouldn't it? Somebody making a fake Chinese bullion coin... They don't seem to appear on ebay, which is why I don't think they're official government issues, but there is another site that lists a couple of sales. They don't provide the price unless you log in, though, and I'm about as trusting in that site as I am the coin, so I'm not signing up. Google 1982-2012 silver panda and check the images and you can find it for yourself if you're interested. My assumption is it's an interesting collectible, worth around the silver spot price.
Sometimes what appears to be missing from a picture can be more bothersome than what is there. For example you and Privy, IMO, are so like-minded, and so like mouthy, that it is almost as if you are Siamese twins. One would expect the two of you be posting in each other's threads all day long, patting each other on the back, winking, oh look at us aren't we brilliant? Correct me if I'm wrong, but I don't believe I have ever seen either one of you post in the other's thread. Ehh?
Yeah. For a little while I thought maybe the internet was gaslighting me. A couple of days ago I found two of those, but this morning I couldn't find any and I couldn't find the site that had them before. But then I did find it. I hope I'm not breaking a CT rule (I checked but didn't see anything), but here's a link to an auction from Aug 2017: https://www.invaluable.com/auction-lot/panda-silver-round-1oz-999-silver-1126-c-1244b899d8