Wow. Here's an old post that didn't get any responses.
Jay, your guess about the origins of the band is as good of one as I can come up with. Usually when state wildlife organizations band birds, they use bands with identification numbers, so this was probably some game farm's way of identifying its birds. Back in the early 1980s, the Nebraska Game and Parks Commission experimented in raising pheasant for release at Willife Management Areas in the state. Those birds had small aluminum bands with ID number and a note to contact the Game and Parks if the band was found. I have three or four of those that I picked up over the years (one I found in the mud on a lake shore and the other were given by me by a guy who harvested some of the birds shortly after the banding experiment).
Interesting find for your buddy, though!