The piece appears to be a medal rather than a token. Based on its size and its single-metal composition, it would not appear to be a test token.
From time to time, the RCM has taken the core design elements from one of its coins and used them to strike a medal. This piece appears to use the primary design elements of the core of the standard $2.00 coin.
It may have been a souvenir medal available at the RCM or it may have been a piece sent to Masters Club members at the time. Maybe others can clarify?
Here's an example of the mint using the basic design from its centennial silver dollar on a base metal medal.

From time to time, the RCM has taken the core design elements from one of its coins and used them to strike a medal. This piece appears to use the primary design elements of the core of the standard $2.00 coin.
It may have been a souvenir medal available at the RCM or it may have been a piece sent to Masters Club members at the time. Maybe others can clarify?
Here's an example of the mint using the basic design from its centennial silver dollar on a base metal medal.

Collecting history one coin or medal at a time! (c) commems. All rights reserved.




















