It says 'Play coins of the world' with a 50 in the center on one side and on the other side it says Reis Brazil.
Not a Game Token. It's play money for children from Topps and it is collectable.
That's a Topps 1949 Play Coins of the World piece. Tops issued 24 countries, with values 5, 10, 25, 50 or 100; in 1948 and 49. Topps Archive
They are collectable. I found them going on eBay for about $9.95 per coin. Originally they sold for 10 cents for a pack of 5 and a stick of gum.
The 72 "metal coins" in the series came with Play Money Pops should be categorized as a 1950 issue.
There was also a run in the 1960's which are also collectable. They go for about $3 per coin on ebay