This was also in the Counterstamped Dimes I've recently posted. It's Counterstamped BLAIR on the obverse butvthecreverse was carved into a love Token. It's the last one in this bunch. Looks like it used to be a pin or a broach.
I agree. You can see where the silver solder was at 4 and 11 O'clock. I love the work that went into these. Nice coin token.