Old button - lead backing?

[ModernMiner]

I was out in the woods today along an old path digging many horse and mule shoes. I also dug this piece.
It looks like an old button with missing shank. It has a lead filled backing, is made of brass, and measures almost 26mm.
Do you think it's an old button or something else?
Thanks,
MM

 

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[kuger]

I always figured they were horse tack deco,and had a single stud on the back?

 

[ModernMiner]

I always figured they were horse tack deco,and had a single stud on the back?

Never thought of that. Great guess. Thanks Kuger.
Lots of very old horseshoes and bits along this path. I barely had time today, but will be giving it another shot this weekend.
Thanks,
MM

 

[kuger]