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What's this?

Ok, story is my friend gave it to me... anyways... I don't know what the design is, but it would seem it's a counterfeit. The ring just doesn't sound right... and the word COPY has been stamped into the reverse, the arrow in the 3rd picture points to it. It's dated 1787 and it's pretty beat up... Legend on the Obv reads from Left ot Right around the top "UNUM E PLURIBUS" and on the Reverse, Left to Right around the Top is "NOVA EBORICA COLUMBIA" and at the bottom reads "EXCELSIOR" Please look at the pictures and tell me what you think. Thank you!

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-George
42/92

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