These coin sized tokens were used to advertise "D.Cunningham, Merchant Tailor & Outfitter"
whose premises were at 1 Hardgate Street, Haddington.
(Hardgate Street?)

I don't know under what auspices these would be distributed but it's possible
that they had some monetary value & could be used as part payment
when purchasing items from D.Cunningham.

I wonder if the hat priced at 10/6d (52½p) is significant.
The Mad Hatter* in "Alice in Wonderland" wore a similar hat with a price tag saying,
"In this size - 10/6d".

*The "Mad Hatter" was a genuine side effect of the hat-making industry of the nineteenth century.

A mercury solution was commonly used during the process of turning fur into felt, causing the hatters to
breathe in the fumes of this highly toxic metal.

This led in turn to an accumulation of mercury in the workers bodies, resulting in symptoms such as
trembling, loss of co-ordination, slurred speech, loosening of teeth & memory loss.

Nowadays you would just stay too long in the "Goblin" to achieve a similar effect.