Possibly made by the Leyse Co. (of Kewaunee, Wisc). The aluminum planchet is very thin and has been compared to the foil used to wrap individual sticks of chewing gum. The style of manufacture has also been called “Bracteat” after a medieval style of manufacturing coins where one side has raised letters, and the other side is incuse. Two distrubtors of Double Cola, a soft drink made in Wisconsin and Michigan, used similar tokens. This token was at one time a common sight in the junk boxes of Wisconsin coin dealers. ******One seller thought this was the Union Carbide Consumer Products Corporation.
Source: http://www.tokencatalog.com/token_record_forms.php?action