It is in a category of buttons which button-collectors call a "Jacksonian" button, due to being popular during the US presidency of Andrew Jackson, late-1820s into the 1830s. Jacksonian buttons were probably the first version of what we now call metal 2-piece buttons. Your button consists of a brass flatbutton with a separately-made applied rim... which is typically "fat" or wide. The first photo below, "backside" view," shows that the rim is indeed a separately-made piecen added onto the button's main body.
Allthough yours has an eagle emblem, it is merely a "patriotic" emblem... Jacksonian buttons were civilian-usage, not military. As the photos below illustrate, most Jacksonian buttons show flowers or animals or birds, etc.
Most were made in Britain, but some have been found with American backmarks. (Note the British spelling of the word color as colour, in the first photo below.)
