Try this - DECVS ET TVTAMEN ANNO REGNI?
The little tumbler is most likely made from a silver coin and the letters are what once was the milled edge of the coin.
I've seen a number of these and heard some unlikely tales of why, where and when they were made. If anyone does know the history, We'd all really like to know more about them.
ps. Image size is fine for a link, but tough on those with dial up connections, probably a few minutes for each image to load. You might consider adjusting your camera settings or reducing the pic size in photoshop or another pic program.