But here is a similar one with english text on the reverse - so I am back to "not sure" - I am just going into ebay and searching on "1937 brothel" https://www.ebay.com/itm/275501186701
These are listed in the TAMS Journal June 1974 "Amusement and Vending Tokens" by Stephen F. Alpert. The image is described as "bust of boy" but I can see why it is thought to be a woman...
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