Probably a souvenir piece. Transliteration is "vasileos filippou" (right Dimitri? ). It doesn't look like any Phillip father of Alexander piece I've seen, though it does have elements of actual coins (such as the club). Perhaps someone who is more expert can tell us if it is based on an actual coin?
This design was used by king Phillip V of Macedon (r. 221 - 179 BC) on a silver tetradrachma. He was a descendant of Antigonos the One-Eyed, one of Alexander the Great's generals. As spoon mentioned your example is likely a souvenier. The details differ noticeably from those on the example pictured in Sear. Still, for a replica it's not bad looking at all.
"Render therfore unto Caesar the things which are Caesar's; and unto God the things that are God's." Matthew 22: 21
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