I’m not sure if this is even genuine it is completely out of my wheelhouse. I primarily deal with US coins. If anyone can tell me anything about this, I would really appreciate it! The diameter is 44 mm. (Roughly 1.75 inches)
44mm is too big for a regular "Chinese cash coin". The odd circular lathe-like markings and definitely out-of-round shape also indicate it was made by someone unfamiliar with how actual cash coins were made. So it's definitely a privately-produced item, presumably meant for use as a charm. Larger ones like this are normally attached to houses.
On the obverse (top picture) we find "Guang Xu Tong Bao", which is the usual inscription placed on official coins (though not on large coins) by the Guangxu emperor (reigned 1871-1908). On the other side, we have "Tian Xia Tai Ping", a typical "lucky charm" slogan translating to "heaven and earth, great peace" or perhaps more poetically "may there be universal peace".
@Sapyx Thank you so much for the very informative and well thought out reply. I genuinely and tremendously appreciate it!