That's British King George III with a crown of laurel on the front, and Britannia on the back. Over the years, Britannia has become a bit spiffier, but she still graces many British collectibles, like tee-shirts, for instance!
Canada did not congeal into the nation we know today until 1867. Before then it was a collection of provinces under the British flag. Half penny and one penny tokens were minted for Upper Canada This specimen is from 1832. The design changes after that.
The catalogs report the following values for 1832 half penny tokens:
worn: $10 US dollars approximate catalog value
average circulated (like our picture): $40
well preserved: $200
fully uncirculated: $500
These are not actual buy and sell prices, but inflated catalog prices. Use our Important Terminology page to convert from catalog to buy and sell price.