I would guess the answer to your question is "both". Remember, if you've got stuff in a foreign language, always try
BabelFishing it.
In this case, BabelFishing the text on the top picture tells you where: "Brauerei" is (as you might have guessed) "brewery", "Vereinigung" is "combination" (my German dictionary says it's in the sense of union, association or incorporation - "Vereinigte Staaten" is the German name for the USA), while
Kulmbach doesn't translate - turns out it's a town and district in northern Bavaria.
The other side tells you what it's for: "flashenpfand" transliterates to "bottle pledge", while "marke" is a coin or token.
The Coffing checklist of notgeld lists "private metal" pieces are known for this locality; private metal pieces are rated A, the least scarce rarity grade (less than $25), so it's probably not too scarce.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis