The design is based on US gold $2.50 or $5 coins issued from 1908-1929 (the coins had the same design except for size and the denomination on reverse). But what you have is clearly not an official coin- note the very crude casting (originals were not cast), absence of a date (should be on obverse under the Indian's head) or a denomination (on reverse, it just says "dollars" rather than "2 1/2 dollars" or "5 dollars"), not to mention that these are pretty clearly not made of gold. I think paddyman98's suggestion of jewelry pieces makes most sense- that would explain the holes- though we can't rule out that these were originally toy money or game tokens that were later pierced for some reason.
