I recently found this token for sale on eBay.
Thanks to several friends, especially Judith Wilson, it appears that this token was used by a grocery store in Beaver Dam that was owned by James McHenry Porter, who was born 1 Oct 1862 and died 3 March 1935. Mr. Porter is buried in Sunnyside Cemetery in Beaver Dam.
The 1930 census shows his occupation as merchant/grocer in Beaver Dam.
Mr. Porter's parents were Martin Van Buren Porter and Sarah Angeline Porter and his spouse was Nancy Mary (Arnold) Porter. They had six children: Roxie Josephine, Clytie Hayden, Edith Ada, Altha, Marie and Henrye Arnold.