Color Added to Black and White Image (Note: Color may not be exact)

Obverse Design Circle of beads close to the edge of the octagon-shaped coin. "N.C.O. CLUB" curves along the top of the circle. A bow-shaped ornament appears in the top middle. "FORT" and "SHERMAN" go across the middle in two lines. "C.Z." curves along the bottom of the circle.
Reverse Design Circle of beads close to the edge of the octagon-shaped coin. "GOOD FOR" curved along the top of the circle. There is a large "25¢" in the center. "IN TRADE" curves along the bottom of the circle.
Metal Brass. Weight Unknown. Size and Shape Octagon, 25 mm across.
Dates Issued Unknown; may be pre-World War II.
Issuer Fort Sherman, on the west bank of the Canal across from Cristobal/Colon.
Mintage Unknown.
Rarity Very Rare. Manufacturer Unknown. Other Catalog Numbers Asociación Numismático's F-156 (photo).
Varieties One variety is round and aluminum, the other is octagon shaped and in brass.
Function Perhaps a post exchange token.
Population Count Only one specimen in collector hands is known to me. I do not know of any recent sales.