Third, I think I know what your mystery-object is, but the only thing in your post which gives us even a rough indication of the object's size is your question "Is it a button?" When you measure its size with a ruler and give us that information, I'll know if it is what I think it is, and tell you.
Thanks, still learning to use this site. Dont know what it is made out of, on my garrett 250 it reads between the gold and silver scale and measures 1 inch in diameter. Attached is another picture
Thank you for the size measurement. I believe your brass disc with a small square hole at center is the correct diameter to be a US Army collar-insignia disc, missing the emblem. To learn more about that specific version of collar-disc insignia, go to the following website and scroll down to "Type 3 discs." You say yours is concave (not flat), so it is a post-WW2 version. See the section on "domed" discs, near the end of the webpage: Dating Metallic Insignia: Collar Disks