The seal or tag clearly displays the coat of arms from the City of Leiden, centre of the wool trade.
The base metal roundel with loop, inscribed wolle dekken gemaakt binnen leyden (wool blanket made with Leiden), the opposing side Lenden Hollandt shows Leiden's city crest of the cross keys, 1 1/2 in/4 cm height
You can probably see from the photos it is a little battered but really in remarkable condition for the age.
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