The first coasters were designed for decanters or wine bottles, so that they could be slid (or "coasted") around the dinner table after the servants had retired.  The Victorians would also use coasters for drinking glasses, these were most commonly made from silver plate or silver plate and wooden bases.
 
This is a decanter coaster with silver plated pierce-work sides and a turned mahogany base, protected by a green felt cushions. This coaster would have been used in a reasonably wealthy household.
 
Condition is good to both the silver plate and the mahogany base.
 
Dimensions: 11.5 x 4 cm