What is this?

I was going through my grandfather's old coin collection and i can not find a picture of this on the internet anywhere, anyone have any ideas?

 

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A privately issued token? Just a guess as I don't recognize it.

 

well that can be good or bad hehe

 

I'm not as fast as some of the others at looking things up online but I'm sure someone will spot it and identify it soon. Where s Chris when we need him? lol.