I have the same coin! I just found the same coin / token in a jar full of antique buttons. It says TRAFECO on the back and has some sort of box on the front that says LG. Like a TV or fridge? who knows. I have NO IDEA what it's from. If you found out, could you let me know? I'm terribly curious.
"Traffico" is Italian for "traffic", and that "box" is a 1920s/30s automobile, with the front (headlights) at the top. My guess - you have an Italian car wash token.
It isn't spelled correctly for Italian. Unless Trafeco is a brand name or trademark. I really don't think it's Italian. I would guess that it's some name-brand or something. Or in a language I don't know (I speak Italian btw).
A likely story - not!Traffico is Italian for traffic but TRAFECO is not.My guess is some defunct company named Trafeco put it out for some reason and it has nothing to do with car washes or traffic or Italy.
I suspect it maybe some sort of parking meter or parking lot token. Maybe the machine is made by LG for use in South America or Southern Europe. Other theories: Washing Machine Token Mechanical Gypsy Fortune Teller Alien spaceship parking meter token from the Andromeda Galaxy.
Trafeco Ltd. Parking seems to be a parking garage company/business in Chichester, England. Other than that, your other proposals are more likely than it being from Italy.
It subway token or transportation token. but there a few train/sidecars that LG has built a few city & island around Greece&Italy.
I think brg5658 is right. Someone else posted the same token a long while ago and no one knew what it was. You could try and email that company.