Bakelite Fair Ride Token

This is a bakelite fair token, I would say from the late 60s, early 70s. It's engraved on both sides. You would purchase your token, hand it to the carny when your turn arrived, and it would be reused over and over and over and over....
Then someone figured they'd rather make them out of paper, and rip them apart and throw them away...sometimes we humans have the brightest ideas...