"Spiel Munze" is "play money" in German; "Signor Pagato" is "Mr. Paid" in Italian, and "excusez" is "pardon" in French. Stir them all together and you've got a multi-national toy with nonsense legends.
see post in forum below: http://www.sucherforum.de/smf/index.php?topic=21568.msg120362 the post is in german, so perhaps someone with better deutsch than me can chime in. however, the token described here sounds very similar to yours. the post indicates that this particular counter (that is, theirs and not yours) was made in vienna in the first half of the nineteenth century, and even provides a reference book (in german, of course). sounds like maybe these tokens made the rounds in the austrian/swiss/italian alp area, where multilingual inscriptions would be useful? at any rate, cool piece. V.
