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This is a 1947 token (good for one local fare) for the Key System in the East Bay Area of California.
The Key System (or Key Route) was a privately owned company which provided mass transit to the cities of Oakland, Berkeley, Alameda, Emeryville, Piedmont, San Leandro, Richmond, Albany and El Cerrito in the eastern San Francisco Bay Area from 1903 until 1960, when the system was sold to a newly formed public agency, AC Transit.
The Key System consisted of local streetcar and bus lines operating solely in the East Bay, and a network of commuter rail and bus lines connecting cities and neighborhoods in the East Bay to San Francisco by way of a ferry pier extending out into San Francisco Bay, and later via the lower deck of the Bay Bridge. At its height during the 1940s, the Key System had over 66 miles of track connecting the communities of the East Bay with each other and San Francisco.
Thanks for looking,
Dave