Watch List notes:

PHILIPPINES: AR peso "love token", 1907-S, KM-172, countermarked 26 / 31 / F.M. / N.P. // KIKAY / PESIONG / JAN. 30 / 1944, VF.

Presumably Kikay Pesiong is a female name, which would make it likely that this is a love token issued by an American or Filipino soldier during the Philippines Campaign (1944-1945).

Estimate: 75-100 USD