Looks like it was sanded down or something. Possibly an unfinished love token but as is it is worth just 1 cent. Or 2 cents if you can find someone who will melt it for free.
I would keep it. It doesn't have any numismatic value because there is no date or mint mark but it is a cool little piece. Plus I think you can take it somewhere and get it made into a love token, which would be awesome.
It really is up to you, though. Some would prefer to spend it since it doesn't really have a value or an obverse which is fine for the next collector who gets it.