It's a British halfpenny issued in 1911, the first year coins were issued with King George V's portrait. At the time of its issue it would have been worth about 1 US cent. The UK had a currency system of 12 pence = 1 shilling and 20 shillings = 1 pound until 1971. The old halfpenny was withdrawn in 1969. In this condition they are very common and a dealer would relegate them to his junk box. I imagine some must have made their way to the USA in the pockets of GIs returing from World War II. Link: https://en.numista.com/catalogue/pieces871.html
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