Despite the fact that this coin was found by a detectorist, I strongly believe that it is a copy of fake a gold stater of Philip III Arridaeus, made in silver. Possible it was gilded once. The obverse seems to me a rather successful copy, but the reverse is finished too sloppy and the forger has virtually given his own interpretation of the original. The silver Drachms of Marathos (Phoenicia) resemble this coin; however the legends do not match. Also the weight of the official drachms is just over 4 g, this one weighs over 7 g. Probably an ancient forgery? In addition, the piece was found in Palma de Mallorca, too far away from Macedonia to be a genuine reference. The weight is 7,1 g and the diameter 20 mm. All information is very welcome! Thanks in advance.
For an ancient fake of a gold stater of Philip III it is just about the right size. The legend on the reverse is identical to these coins. The weight of a gold stater is about 8,5 g. So, even if gilded the coin would have been under weight, which is normal because silver is lighter than gold. So, as I already wrote, for me this is a forgery, possibly ancient.
A silver coin the same dimensions as a gold weighing 8.5g would be expected to weigh less than 7.1g I would think. I have an Athenian fourree tet that weighs 16.5g but is noticeably too big when with silver coins. Makers of such things could get size or weight right but both would require some fancy alloy work (add lead???).
The OP coin seems to have lost weight considerably due to erosion. Notice that some part is totally missing. Add to this that it might have been heavily gilded in order to give it the appropriate weight as a gold stater. I guess it's an ancient fake. It's valuable anyway.
