Not sure about this "E" stamped copper. Button????

Smilodon

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Apr 4, 2011
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Charleston sc
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Went to a site I have not been to in over a year. Pulled this out along with items from the late 1800s. My friend found one a long time ago and it could not be identified. It had a section on the outer ring that looked as though it was clipped away. However it did not have a hole in it like this one. Any ideas
 

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There has been much discussion on this site about these "buttons" but i don't think they have ever been positively IDed.
 

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My thought is E for Earth. Is it an indicator on an electric plug or switch, or similar?
 

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Maybe its an 'M' ? the hole is above an 'M' so maybe someone used it as a pendant or just a string or wire ? Maybe just a Tag??? Just My thoughts???
 

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