I contacted Richard Greever at TokenCatalog.com and he said the issuer of these tokens is unknown, but he did provide some clues for further research. With his permissison, here is his response:
" I can only offer a few clues.... This token has been unattributed for years, so we don't currently know who issued it.
Now the clues...
The reverse has a die designation - GFIT-5-¢-N0-101e. This means someone has probably marked other listings which used the same reverse die to strike those tokens. You can search for these by entering "DIE-GFIT-5-¢-N0-101e" in the Exact Phrase box and searching. This will return 49 listings.
Looking at the attributions and the notes from each of those listings it can be concluded:
The maker of this token distributed tokens across the US. There are non-maverick tokens from Idaho, Washington, Ohio, Colorado, Nebraska, California, Indiana, Michigan, Iowa, North Dakota, South Dakota, Oregon and Wisconsin.
When there are attribution notes which list dates, it looks like these tokens date to the late 1910's into the 1920's, so that is likely the issue period of this token.
You can click on the Mapit2+ button to get a distribution map of all listings displayed from the DIE-GFIT-5-¢-N0-101e search. You will see the whole country is covered by these 49 listings.
Although this isn't obvious from the site. It is believed the maker of this token was in Detroit.
When I look on Ancestry.com, limiting my search to 1922 +-5 years...
James J. Russell returns 199 listings to review
John J. Russel returns 511 listings
Joeseph J. Russel returns 67 listings
Each of these could be reviewed to find individuals which were in a business which might have used tokens. There are multiple possibilities in this case. The problem then becomes, which one is correct.
Finding one of these in the ground somewhere, having been passed down through a family, might allow the search to be narrowed down greatly, but I'm unaware of this information.
That's what I can offer.... It can probably be figured out, but will take some time.
Richard"
