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It has been pierced so as to become a pendant and it dangles from an antique brass chain, more recent, circa 1940's, the clasp is unusual as the opening leaver is also the hoop to connect to the rest of the chain.
some info on this old coin:
Diameter : 20mm
Weight : 2.7 - 2.9g
Victoria's bust facing left, abbreviated legend is as follows:
VICTORIA D:G: BRITT: REG: F:D:
(Victoria by the Grace of God, Queen of Britains, Defender of the Faith)
Seated Britannia facing right, holding a shield and trident, with the word "FARTHING" above, and the date below.