It looks like some kind of fantasy to me. The reverse looks a bit like a medieval Armenian coin, the obverse is more Hispanic-looking. I have never seen anything like it! Could it be some kind of token?
Like Kuhli said, Spanish Phillipines-- i'd just add these were struck from the late 1700's to about 1836. The date is missing and is the part of the legend where it tells if it was struck under Carolus IV or Ferdinand VII, which would also help date it.
Thanks, I found the listing in my Krause catalog. This particular coin has the reverse rotated exactly 90 degrees from where it should be. Also, the side with the shield on it looks like it is double struck. Too bad I can't see the date.
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Marcel
I'm afraid to be alive without being aware of it
Also, the side with the shield on it looks like it is double struck. Too bad I can't see the date.