Looks like the Sears 1986, 100th anniversary token. It's supposed to have been made from copper removed from the Statue of Liberty when it was being renovated. I've got one somewhere. I'll dig it out and take a pic.
The Sears tokens? I'd say rare because any person that got one tossed it in a jar, or drawer, and forgot about it. I don't how many were made. I'm sure there are plenty out there, of course forgotten about though. As far as value, I've seen them on eBay for $7-$9.
I know it's a Sears token but one of the $1 President coins has a similar looking reverse, take a look.