Round gold token. Front looks like a penny with Abraham Lincoln centered facing right, "LIBERTY" on the left, and "1997" on the right, all text in relief. "LIBERTY" has a slight space between the L and the I. Back has a white stamp centered with "PAW" in large text at the top. Below it is a white line, then "PENNIES @ WORK." Next is another white line and "UNIVERSITY OF NORTHERN IOWA." The sides have no text. Small pock marks on all sides.
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Institution