Actually, this piece is quilified a jetton, not medal. It's not government issue but ruther private made. There are a couple dozen different jettons for this period of time. All of them are made of brass, and not the best quality. Market price is $15.
There are a few different types of this 1917 jetton "Свобода Равенство Братство" (no doubt borrowed from the French Revolution slogan of Liberté, Égalité, Fraternité).
This one has a nice allegory of Freedom (or Russia?) holding a torch of freedom as well as an olive branch.