This large 1 & 1/2" button is old, but how old is the question. It might be a very good reproduction from the centennial of the French Revolution. It might also be a late 18th c. memorial button. Either way, the subject is the misfortunate Louis XVI of France molded in some kind of plastic or wax, maybe even plaster. I have not seen this button before, but I have seen commemorative buttons from the late 1900s with a similar back. These are buttons with paper cherubs under glass and hand painted water color Bastille scenes. It is quite unusual all the same, but ask an expert before you submit it to competition. It is in excellent condition. Marie Antoinette must be out there somewhere facing left.
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