Could this be a metal button or a tool piece of some sort?

[CrownVic26]

Hi I found this thing on a property from the late 1800s. Very curious what this could be. It looks like it could be a button of some kind. But its very heavy I don't think they made buttons with such weight. Feels like its equal to 4 pennies in weight, but will weigh it with my scale later tonight. Any idea on this? Possible date? I appreciate your input very much!!

 

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[taz42o]

That is a hem weight.

Old Metal Hem Weights Lead Weights Mixed Lot by ButtonFinder

 

[cactusrat]

I will go with hem weight also.