Nice find. Looks Spanish but I'm sure it's what you said. You check ngc price guide? How much is it worth?
I have a "similar" example ... not quite the same, but I definitely believe that your new baby is a Frenchie ... France, Henri IV Huitieme d'Ecu 1599 Cross Fleuree & Crowned Coat of Arms ... I don't know what your coin is worth, but I think I spent $50-$70 for my example ...
Henry the 4th of France and third of Navarre. His head was lost 200 years after his death, during the revolution when his tomb was desecrated and only found again in 2010.
I know nothing about these but find it interesting that the OP coin has Henry' name on the shield side with Sit Nomen.. around the cross while Steve's coin has Henry around a very different but still crosslike motif and Sit Nomen... around the shield. Is this normal?
Doug, as you might have guessed, I'm certainly not an expert in these 16th century AD French sweeties!! ... I do know that my coin must be a different denomination than the sweet OP coin, for my baby is: => 24 mm of AR fun, weighing-in at a pleasingly plump 3.80 grams!!
Steve's coin is a silver 1/8 th of an ecu, while the OP is a billon douzain, different denominations, as guessed by Steve, different metal, different designe, although it's the same ruler Q