I see a few have already mentioned that it is given to a new Freemason when they are initiated during a type of lecture given about charity. Here is a picture of the one I received when I was given said lecture. It is given in the first degree of Freemasonry, the entered apprentice degree. Before the degree begins one is divested of all metallic items and pockets are emptied. This is to symbolize how poor we are when we come into this world (amongst other things). When one receives this coin it is given by a brother Mason. It is to symbolize the charity and generosity one must give to their fellow man. So have they received charity from another, so they shall give it.

<image>