A little background history:
1. King Charles I (1600 – 1649)
2. was executed for high treason following the English Civil War, when the country briefly fell under the rule of Oliver Cromwell.
3. He was beheaded on January 30, 1649
4. His body was embalmed and buried inside a sealed lead coffin in a vault at Windsor Castle.
5. In 1799 workmen at St George’s Chapel broke through a wall and accidentally discovered his tomb.
6. Charles’s body was relatively well preserved, and they were easily able to identify him by his distinct facial features and his distinct beard style and severed head.
7. The pointed beard was uniquely characteristic of the period of the reign of King Charles
8. The exhumation sparked off a resurgence marked by a flurry of “mourning pieces,” including brooches, lockets, rings, etc. some of which share the same border design as exhibited on your button.
I have never been able to find another button or been able to verify this information. But it seems like the assessment is plausible.