It’s listed below but with a letter ‘L’ in the centre and attributed to Logansport, Indiana via a 1912 advert in the Pharo-Tribune that says the Columbia 5c Cigar was “Made in [the] city”. I think that should be “
Pharos Tribune” which was (still is) a daily newspaper based in Logansport, covering Cass County.
https://tinyurl.com/ryezfnc
That agrees with one of the eBay listings provided by @Mackaydon above which assigns it to Logansport, but with the letter ‘R’. I have no idea what the letters mean or whether only the ‘L’ version of the token is from Logansport but I’ve now seen these tokens with B, F, G, J, L and R (and I’m not 100% sure but I think also M).
Some sources suggest these tokens were included in payout from table-top trade-promoting slot machines, but not exclusively so. The same advertisement for the Columbia 5c Cigar also exists on jukebox tokens associated with Alpert/Smith but with the tokens being valid for one play on the juke.