This is the Bowling Green State University ROTC Challenge Coin. They are the Fighting Falcon Cadet Battalion. The program at BGSU started as an Artillery Reserve Officers Training Corps - that is, they only produced artillery officers. Many of the first class were WWII veterans.
The front of the coin reads "BOWLING GREEN STATE UNIVERSITY / BOWLING GREEN, OH est. 1948". In the center of a coin a shield is depicted with a black flying falcon carrying a red torch. A scroll is below with "B" and "G" on either side, and the number 82 is stamped below that - presumably the number of the coin in the minted set.
On the back of the coin is written "PRESENTED BY THE COMMAND TEAM / MILITARY SCIENCE AND LEADERSHIP". The Lt. Colonel silver oak leaf insignia and the Master Sergeant stripe share center stage.
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