The term 'counterfeit token' refers to a fake or imitation of a legitimate item. The crossword solutions for this term are 'SLUG' (4 letters) and 'SLUGS' (5 letters). A SLUG is a counterfeit coin, usually made of lead, that is used as a substitute for a genuine coin. SLUGS are often used in vending machines and other coin-operated devices. They are also used to defraud people by passing them off as real coins.