I think it may read MERC KURIUS and possibly is a jeton / Rechenpfennig counter. It looks like the same obverse here - though there is no photo of the reverse to compare.
Bramblefind is correct..well 99% it is a brass rechenpfennig, or German counting-jeton. It is part of a large series of similar jetons produced by the Nuremberg jeton-makers featuring foreign leaders. The reverse legend would read, if it were clearer: RECHE:PFENING. Just have to work out which foreign leader it is.