This thing is about 2.5 inches in diameter. I have 20 or so of them that I found in a lot of old tools I purchased. Some of the things in the lot were quite valuable, so I am reluctant to chuck these until I know what they are.
I am thinking some kind of "plug"...
like sink plug... industrial...
OR "cap" of some sort...
more than likely it would have been used in a "water" environment due to the material.
My initial thought is that they are all exactly the same, but I would have to have them in front of me to check. All of them do have the same numbers in the base.
My initial guess was a freeze plug as well, but after an exhaustive search I have found no matches, or even one with a "handle" on the outward facing side. I believe the item is pot metal.