Please help in identification of this Portuguese token.
http://avscoins.com/showcoin.php?cat=Portugal&id=POR-34
The inscription translates from Portuguese as "Equivalent to 500 Reis in goods". Judging by the currency mentioned it should date before 1910. It weights 3.21 g and is 22.7 mm in diameter with a hole of 9.25-9.65 mm. The metal seems to be nickel plated brass.
I'd like to know what was it used for, was it used in Portugal or any of its colonies and what might be its approximate current value. Thanks!

It can be Brasilian, until 1942

Could be Brazilian of course, though I bought it in a collection of Portuguese and African (Portuguese) colonial coins. There were no Brazilian coins in that lot.

One was sold in August for 30 R$ in Brasil: http://articulo.mercadolibre.cl/MLB-45883950-_JM