The NE Book isn't very enlightening on this one - it shows rarity 5 on a scale of 7 which translates to 11-25 examples known. A little searching shows that William Steen was proprietor & cook in a restaurant in Arlington in 1930, but in 1931 he had evidently moved into nearby Fremont, NE. His restaurant there was at 1322 Military Road (It appears they have changed the addressing scheme and now Military Avenue is split into west and east - they probably renumbered everything so I can't tell the present-day location). He was probably in business for just a short time in Arlington because he was fairly young - born there in 1902 as near as I can tell, so I'd guess the token dates from say 1925-30. He died in 1974 and is buried in the Arlington cemetery.
John in the Great 208