Not sure, but second picture cropped a little and rotated
Added red lines - to me shows a thistle with two leaves, about 110 degrees apart,
in a continuous solid circle, and made of silver. First thought with thistle is Scotland >
https://en.numista.com/catalogue/index.php?e=scotland&r=thistle&st=147-150&cat=y&im1=&im2=&ru=&ie=&ca=3&no=&v=&a=&dg=&i=&b=&m=1&f=&t=&t2=&w=&mt=&u=&g=&c=&wi=&sw=
which most in there, but not all, have a rope circle - which must have gone all the
way round when it was new, but is now clipped so is quite a lot smaller today.
The other side shows nothing at all apart from two creases. No lettering anywhere.