First European Regiment EIC? button ID

[irish79]

I have had this old button for many years, coming from my grandmother. I am not sure why she had it, if it was a family thing or what. It looks to me to be for an EIC regiment (a guess). It has what looks like the EIC Lion with the words "FIRST EUROPEAN REGT" on the front. Looks to be made of silver or some silver like metal. Maker on the reverse, "GIBSON & Co."

I have tried researching to confirm its period and confirm its origin. Anyone have any ideas?

Thx David