In silver.
Obverse
獎章 - medal
Reverse reads
青龍縣公署 - Qinglong County Office
In the center
頒 - granted/confered
Marked 純銀 - pure silver
+ interesting mark on the ring
Could be ひ https://asiamedals.info/threads/orders-of-rising-sun-with-hi-mark.14998/
Obverse
獎章 - medal
Reverse reads
青龍縣公署 - Qinglong County Office
都山设治局 - 维基百科,自由的百科全书
zh.wikipedia.org
In the center
頒 - granted/confered
Marked 純銀 - pure silver
+ interesting mark on the ring
Could be ひ https://asiamedals.info/threads/orders-of-rising-sun-with-hi-mark.14998/