Value? Whatever someone is willing to pay. No real collector value there. Maybe $2-$5 to the right person.
Plated and or polished. The coin if real is worth very little. Go to Ebay and look at what the coin should look like. Sorry it's not better news.
People polished and plated things long before your Grandma was born. Believe us, that's not what a real, untampered-with Indian cent looks like. Focus on its value as a keepsake.
Even with the bad photos, it is pretty obvious it has been plated. The color, mushiness of the design, and reflectiveness all point to it being plated.