Dad's Lost Coin's quality is considered 2 for the purposes of Bag of Crafting.
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The item may refer to Sobriety Coins, which are given to members of the Alcoholics Anonymous organization to commemorate how long a member has remained sober.
This is also supported by the dialogue during the Ascent, where at one point Mom mentions that Dad has a drinking problem.
This was confirmed by Edmund in the Four Souls Isaac lore stream. He went on to say it was inspired by his own father, who is a recovered alcoholic/drug addict, and gave Edmund one of his first sobriety chips as a gift.