Seems to be copper or copper toned at least. Measures around 18 mm across . Weighs 1 gram Kind of similar to this coin but not silver .BOURGOGNE - HUGUES V - 1305 - 1315 - R/ DIVIONENSIS - VARIETE CROISSANT A DROITE
It is a denier by Hugues III, minted in Dijon 1174-1187. These used to be attributed to Hugues V, but nowadays they are considered to be Hugues III.
For the color, I think these may well be billon rather than silver (perhaps varying silver content between issues). At least there is enough copper in them to show (and react with the environment) in many cases.
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