With the quote marks, I'd think it was a trade token used either in a slot machine or card game. The denomination was implied and the proprietor didn't want his information made public. Entirely possible that it was used in a gambling operation - when the sheriff made a raid, those involved in the games knew enough to say that it wasn't worth anything - just a counter to keep track of scores. Like using beans or pins for stakes in a game.
John in the Great 208