What is this?

Not sure what kind of token this is? I found it a few weeks ago and don't know much about it. What was it for, is it rare? Is it junk? It's pretty heavy  

Hello and welcome to Numista!

Just a generic token probably given out by multiple places of business.  Same as this one except maybe brass instead of aluminum.  Looks like they were both made by he same mint Osborne Coinage / Tokens Direct.  No real value and not rare.

Yes, you could spend years collecting all the permutations of OC and RWM (Roger-Williams Mint) coins that are just generic No Cash Value Eagles.  I'm finding they're cool to use in board games though.

Arcade token. Pretty sure I've actually used the same type at an arcade once.