Hi; I believe it may be an iron encrusted coin or button. The best way to clean that is to use Electrolysis. Ask the guys how to make unit ok. it appears to have a definite design pattern and possible Date on it. The only way to know for sure is by cleaning it. I have found several objects like that over the years. The ONLY thing that worked was Electrolysis ok. That piece will take some serious doing to get it cleaned to where it can be ID'd ok. It is to encrusted to even venture a guess at this time. After you clean it to an ID State please Post the pictures of BOTH sides ok. Good Luck. PEACE:RONB