I believe the 5 cent tokens are round. This $1 token is hexagonal. This is obviously a trade token for a Skateland skating rink in West Salem, OR. Collectors are becoming more and more interested in tokens as the Internet opens up this fascinating area of collectibles.
One thing that make token collecting viable is that the tokens are low cost. They are not legal tender and do not command high prices like rare coins. The token in our picture would sell on eBay for about $5 US dollars.
There are 1000s of patterns of trade tokens like this. We were unable to find one from 1888 West Salem. Check the date. 1888 is fairly early for such a token. If you have a well preserved token from 1888, its value would probably climb to $10 to $20.