Hi dhtaz -- I believe that is a tiller (rudder) from an old sailing ship. It goes along with the dolphin or whale theme.

These coins are very modern and are not worth very much. The catalogs list them at less than one US dollar even in uncirculated condition. This is true for all dates except one:

1956 worn: $20 US dollars catalog value
1956 average circulated: $80
1956 well preserved: $350
1956 fully uncirculated: $1200