Commemorating yet another peace treaty ending yet another interminable war with the Ottoman Empire.

Neat piece. How big is it? I'm guessing about the size of a polpoltina.

War with Turkey was a common event in the 18th century.

nice

It is about 21-22mm.

This is conmemoration jeton dedicated to the peace with Turkey 1791 (btw it is Ekaterina, not Elizabeth). original jeton was in silver (like on your picture) and it is one of the most common of 18th cent. and gold (very rare). There are novodels in all 3 metals, one of the rarest novodels is from the set dated beginning 20th cent., made for MNS.

Your jetton is in F to VF condition and vast majority of these pieces show the sign of heavy circulation, which to my opinion confirms the theory - these jettons also served as payment means at that time. Mint state pieces are scarce, but still can be achieved.

I wasn't thinking when I posted this. Curiously this came to me as a gift from a local coin dealer, he couldn't identify it and gave it to my wife to give to me.

It is a nice gift indeed taking into consideration that even in such poor shape the value of this jetton is about good 100-150$ in Moscow, MS piece would be 1200-2200$ (last Markov had crazy prices of 3000+).