nice token, interesting subject matter, nice condition-would be neat to know exactly how it was used-like what percent?
there are collectors that specialize in charge cards/coins/tokens but in my opinion there aren't a large number and this speigel token is not hard to find. unless you're looking for it!
as for value i would say - a few dollars at best. now if i worked at spiegels and wanted their memorabilia i would pay more--at least for the first one! but how many of those buyers are there? but it only takes two at 'an auction' to drive the price up. so there are exceptions to any opinions or guideline or rules or advice...!
I've always lumped these Spiegel tokens in with the Readers Digest and Look Magazine token - given to prospective customers (kinda like magazine or newspaper coupons today) to entice them to become an actual customer. My thought was that it was not used like a charge token, rather it illustrated what one could buy from Spiegels with a monthly payment.
John in ID