Hello!
It looks like what we call in France "breloque de chaîne de montre" (Watch chain charm?). In later XIXth and early XXth century, man used to hang that kind of bauble to their Watch chains. For me, the first photo looks later than 1860, according to the hats, mostly the bowler. I'd say 1880-90. On the first photo, the man with the moustache have a medal that reminds me of the "southern crossof honor", but I ve never seen it with a circle around. The other man have a fantasy jewel, maybe with gems or glass insert. For what I can see on the second photo, it looks like a star.