It is a religious medal. A token is something that is traded.
The image of St. Phillip the apostle is clearly bases on the painting by Rubens, 1611. The painting resides at the Prado in Madrid.
St. Turbius was a Spanish bishop in the 5th century. The image on the medal is modelled on the statue in the cathedral of Astorga.
I don't know enough latin to guess what the rest of the inscription could mean.
There is 10 minutes of Google research for you. Why the two are connected on a medal I can not guess, further research is required.
Is it valuable? in a word, no. Is it old? maybe. There are collectors of such things, and there have been very many different ones made over the years.
It looks late 19th century to me, but that is as close as I care to guess.
Jamais l'or n'a perdu la plus petite occasion de se montrer stupide. -Balzac
