Obverse Design Square, with a circle of beads inside the square. Inside the circle, curving along the top, it says "TENTH INF.". Curving along the bottom of the circle it says "EXCHANGE". Across the middle it has an ornamental arrow, x, and arrow.
Reverse Design The square has the same inner circle with beads along the edge. Curving along the top it says "GOOD FOR". Curving along the bottom it says "IN TRADE". In larger font it has "5¢". On either side of the "5¢" close to the edge are six pointed stars.
Metal Brass. Weight Unknown. Size and Shape Sqaure, 24 mm by 24 mm.
Dates Issued Probably between 1911 and 1917. Listed in a 1954 catalog.
Issurer Tenth Infantry stationed at Camp Otis.
Mintage Unknown.
Rarity Very Rare. Manufacturer Unknown. Other Catalog Numbers Cunningham's CZ290 (photo), Curto's R142 (photo). The two photos appear to be of the same specimen.
Varieties None known.
Function Perhaps a post exchange token.
Historical Note

The 10th Infantry was stationed in the Canal Zone at Camp Otis from October 1911 until May 1917. Upon arrival from its original station in Texas, the 10th Infantry consisted of 33 officers and 813 enlisted men. The camp was named for Major General Elwell S. Otis (1838-1909), a veteran of the Civil War and the Philippines. Camp Otis was an old labor camp named Las Cascadas which was turned over to the US Army in 1911, after there was no more use for it in the Panama Canal construction effort. In 1917 the 10th Infantry was redeployed to France as part of the American Expeditionary Force.

Population Count Only one specimen in collector hands is known to me. I do not know of any recent sales.