All but two of known genuine specimens have holes. This is a very rare token manufactured by John Walker and Company in the Pacific Northwest United States and adjacent regions of Canada. Most have been found in the Columbia and Umpqua River valleys.
The genuine piece in our photograph comes from Stack's Bowers where it realized over $10000 US dollars at auction.
The Red Book, the definitive guidebook of United States coins (by R. S. Yeoman), quotes these values:
worn: $300
average circulated: $8500
There are several modern reproductions of this rare token (see the secondary pictures) that have no holes and are worth a few dollars as a novelty.
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