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Found in an unpaved parking area of an old football field that hasn't been used in several years. Both sides are the same if flipped over vertically, in the photo it's flipped horizonally. It's a little larger than a quarter, chrome plate over brass and the grooves appear to be identical on both sides. Maybe some kind of key?
If I understand correctly, the grooves on one side are located behind the letter "B" on the other side?
One thing about the "B"'s, they are reversed imaged--like on a metal punch or stamp or a printing plate. If you looked at it in a mirror, or pressed it into a soft piece of clay, the resulting mark would be a proper "right reading" letter "B"
Below, your pic and a mirror image of it showing the letter "B" right reading.
[attachment 81376 whatzit2mirror.jpg]
A guess--this is a die plate from some type of embosser, used for pressing the "circle B" into paper, leather or soft plastic---maybe lead seals. If so, then it is a reversible, two-sided die, with one side or the other fitting into corresponding positioning grooves of the pressing mechanism.
The B isn't reversed on either side. I tried to convey that by explaining the way I turned it over, or flipped it, to take the photo. The B on both sides is directly opposite the grooves on the other side, so it's exactly the same regardless of which side you're looking at. The grooves look as though they were made to fit something, very similar to the grooves I've seen in some keys. Probably destined to remain a mystery. Thanks for the input.
Take a close look at the "B" on your whatzit and compare it to the sample letters below.
[attachment 81412 rightreading.jpg]
The first "Bb" is Right Reading. Notice on the capital "B", the "belly" at the bottom is bigger than the "boobs".
The middle "Bb" is a mirror image, or reversed, as the letters would appear on a rubber stamp or printing plate. (this is like the "B" in your second pic)
The last "Bb" is a mirror image (reversed) and upside down. In this instance, the capital B kinda looks like a regular "B" however the big "belly" is at the top. (this is like the "B" in your first pic)
If you compare your whatsit to the sample letters above, the two "B"s on you whatzit are not Right Reading, they are a mirror image (reversed as they would be on a rubber stamp or printing plate). Whatever you have was intended to leave an impression of the letter "B" on something else. Kinda like this:
[attachment 81413 whatzit3mirror.jpg]
I was trying to ID a token I found. Saw some similar to the ones you found. I beleive they said it was a subway token. Slots were put into it so you could not use slugs.
Looks strikingly like a token I use to get golf balls out of the machine at the driving range. You pay in the pro shop, and he hands you a token. Having said that, it may be a token to anything...Gil