I have seen dies used in making US Coins, BADLY DEFACED of course. The other option was a token in a mirror, BUT the lettering appears to be raised like a rubber stamp. Its almost impossible to see 'depth' in a picture. Another clue was he BUTT end was larger and tapered like a coin die, and there was no 'hand' in the picture holding it up to the mirror.

I am really NOT smarter than a fifth grader.....