Quote:
I wonder who made that for them?
Well, there are plenty of high quality manufacturers out there, some here in the U.S., a lot in China, even some sourced in Turkey if I remember correctly. But it's pretty tough to say where a particular one came when they're just loose like this. But I'd reiterate that it's become quite a thriving industry, and actually nowadays there're
a lot of collectors of these. Even the more common military types seem to be commanding at least $10 apiece, provided you can even convince anyone to part with them. My experience has been that people will sell off their older silver coins well before they'll let their challenge coins go. It may be for that reason that I simply don't see too many being offered through coin shops and shows, and that it's rather a specialty field that relies on mostly online sales.
Here're some links that might be of interest.
See:
https://www.collectorsweekly.com/us...llenge-coinsAlso:
https://militaryspecialties.com/cha...-collecting/And finally:
https://www.washingtonpost.com/loca...Q_story.html
Colligo ergo sum