Yes, it's a fake
The difference between the wear seen on the rim/edge vs that on the coin is very telling ... as is the surface appearance of looking like amateur-cast coins.
I would call it a replica, but that is just splitting hairs over terminology.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
It looks like something that might have been used in a sales promotion in the 1950s or 1960s. It is a low quality fake.