"By the late 19th century, many American workers were paid in cash. Putting together packets with precisely the right bills and coins was a tedious task. In the 1890s, Edward J. Brandt, a cashier at the Bank of Watertown in Watertown, Wisconsin, invented a machine that could dispense change automatically" (Smithsonian Brandt Automatic Cashier"

This token may have been used at the company headquarters in Watertown, Wisconsin. Possibly it was used as a test coin for the cash registers. It is unlisted on TokenCatalog, and appears to be a tough token to find.