Thanks for commenting! I think it unlikely as well that this was ordered by the team. I do tend to think it was made with the Yankees in mind- the proximity of Newark to NY just makes me believe in the connection- but as for the purpose of its making, who knows? At the least it's an interesting and pretty cool oddball Yankees item.
I actually threw this up on ebay this morning with a fairly low start and saying what I know and don't know about the medal. Let the people decide
(apologies for the ad- I realize this is not the BST but thought I should mention it).