Yes in this picture it looks like theres something between the w and g. I think it my be &. but that spots so worn off I cant be sure. Ive searched a few places and agree its probably a merchant token just cant figure out what it is.
Yeah, I can see what might be an ampersand or maybe an A.
If you have some idea where it's from, a local historian might have some information. There were thousands of these made for local businesses and without knowing what part of the world it came from, it is pretty hard to narrow the search.
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