I got this through a family member who got it for almost nothing. It is supposed to be a 1854 Papal States 1 Scudo. The diameter, weight, and edge are correct, and appears that it is actually silver. The only problem is that this is dated 1854-VII. From what is in my catalog, there is an 1853-VII and an 1853-VIII, but the 1854 date should be 1854-IX.
that is what I am seeing in my Krause catalog too. hmmmm. strange. I will research this coin more when I get from work.
This is a modern Chinese counterfeit. Often made in correct assay silver. Oversights like that often give them away even when the eye doesn't
Oddly enough, I looked through some old notes and I had this type documented. Apparently I saw it with year VII and VIII. That "unicorn 1" though LOL