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What was this struck on?

I've had this 5 cent Szechuan horse gaming token (X# M1117) for some time, but never noticed until today that it appears to be struck on a planchet cut from something else. If you look to the left of the top flower on the reverse, there appears to be two O's, following it back it looks like an R and a C maybe? The obverse has something going on near the leg of the horse. Any ideas?

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"Have a nice day!"

Comments

  • Check the Szechuan coinage from that year(1912). Could be overstruck on a piece cut from a 10 - 100 cash. Or punched out of a Szechuan coin?
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