I did some research and it looks like this was a piece of jewelry. In the 50's they made bracelets out of coins. All I have seen is one's from the year 1958 nothing from 1954 so this year is probably when they started this. So this would be a rear coin to have in your collection. It still has the ring around it you can see where they broke it off. The coin itself has no damage except a little rust on back.This is real legal tender.
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