What you have pictured is a Masonic penny token. Type in "Masonic penny" into ebay or Google and you will see several examples listed. Value of these range from $5 to $20.00.
R.A.M. - stands for Royal Arch Masons.
If you contact a local Masonic Lodge, they may be able to help you further.
Below is a link for Royal Arch Masons. Hope this helps.