The quest that uses this item requires you to go to Giddues and trade a silver beastcoin to a yagudo NPC in the treasure chamber.
Head into Giddeus, go right, head to the altar. then stick to the right and drop down the secret lil' hole. Head in the direction of the flaming tourches and go to the room at the end.
It's the same room that you get for the quest from the cooking guild. The one where Ranpi makes the cooking mistake.
Edited, Wed Jun 1 20:11:52 2005