All I can say for sure is that it's Chinese, and not Japanese. I can tell by the writing. It doesn't look silver because I can see there's a bit of corrosion or rust on it in the one picture. Hope this bit of info helps..
Hi this is an old post but I would like to answer it. According to the Chinese websites I've been reading, this is not an actual currency coin but it is made of silver. It commemorates Emperor Tongzhi of the Qing dynasty (1862-1874). 同治皇帝.