Commemorative Medal from the former Czechoslovakia, likely issued for an internal company anniversary. It features the number "25" prominently, with text below in Slovak/Czech reading "ROKOV ZÁVODU 03 LEPENKAREŇ". 
The text translates to "25 Years of the 03 Cardboard Factory". 
It is a collectible item, not official currency. 
The exact year of issue is unclear from the token itself, but the "03" likely refers to the third factory or a specific department, not necessarily the year 2003, as the text style and context suggest an older origin within the Czechoslovakian era (pre-1993). 
The material appears to be a common metal alloy used for such tokens or low-denomination coins of that period, such as aluminum bronze. 
 Approximate Diameter 50mm 
Approximate weight 62-63g
   Hard White Base Metal