Cloth Seal, German, Bocholt, Image & Found by Dan Lønborg.
Found in Ribe, Denmark, 35mm.
Missing // tree, bar across the middle, WAL...+ SDR + STADT + B... + // missing // missing
Probably a single disc from a four-disc cloth seal (two large, two small) and probably continental. The letters copied above from the picture are very tentative in most cases. Hertogenbosch in Holland has a tree as its symbol but without a bar across.