It was patented in the U.S. in the 1930’s and it was also patented in Canada about the same time. It was called Put A Penny Coin by the Put A Penny Coin. In Rochester, N.Y. It was used by Muir Drug Stores. You were handed the green cardboard disk, which is a little bit bigger than a silver dollar. You placed a cent in the slot and we’re supposed to return it to the store. The cent in mine is dated 1936 and it’s in great shape as you can see.
I wasn't around in '36, but I do remember getting big chunks of pink bubblegum for a cent at the drugstore. I wonder what was available in 1936 to purchase with a one cent coin. The nickel at that time bought quite a bit. Cool piece.
https://www.icollector.com/1836-1943-Encased-Cent-Put-A-Penny-Co_i8685583 "Return to store for valuable redemption"? https://www.worthpoint.com/worthopedia/lincoln-wheat-cent-put-penny-coin-493833876 Do a Google search put-a-penny co.