Studebaker, 501, Plant 1 (token found, curious on its history)

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My name is Greg. I was out metal detecting in South Bend, IN and found an eight-sided "token", seems to be copper, and stamped on it is:<P>(first line) Studebaker<BR>(second line) 501<BR>(third line) Plant 1<P>Someone told me that it is likely an employee token, used to keep track of tools when they were checked-out. I've also been told that Plant #1 was horse-drawn production, and plant #2 was motorized. Any other information you can provide me will be greatly appreciated. Thanks in advance. I just think it's a neat find!