Cloth Seal, Coat of Arms, ER, Image & Held by Michel Royer
Bought on Ebay from England, 24mm, 8.7g.
Shield bearing three crescents around a five pointed star, E R above // M, COTCH... around
The inscription could well be for cochineal dye and the M maybe related to Statute 9 of Elizabeth, 1580, “The dyer shall fix a seal of lead to the cloth etc. which he dyeth, with the letter M. to show it is Maddered and Woaded,”
Michel Royer found the following in the Encyclopædia Britannica, 1780, p.3599, Heraldry, Example of Celestial Figures, 19, "Gules, a Mullet between three crefcents Argent;" borne by the name of Oliver.