To expand on Broadstruck's reply: it is a maverick Good For token that could very well have been produced generically for distribution to multiple unrelated business proprietors. The chances of attributing it to a specific merchant, based on the design represented, are very slim.
Yep...neat item.... I remember seeing a couple of these in my 'younger days'.... There was a candy shop in town, run by a couple of 'old' guys - brothers...Rovengo was their name... and they had those 'coin gadgets' - forget the name.... glass front.. with metal pegs on a board, one would drop a cent in the top and it would bounce around and eventually hit a slot on the bottom...depending on the slot, there would be a prize... and one of them was a 5 cent token 'good for' piece.... very similar to this piece...a lot of slots were no payout, a couple won a penny candy..... Cheers, RickO
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Not sure what state it was issued in but you might be able to find info with a google search.
Edited To Add: I searched and couldn't find anything as to State, Merchant, or what kind of goods it was valued in trade towards
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
It's probably a stock arcade token for a nickelodean from the teens or nineteen twenties.
It's not scarce.