Googling this only came up with multiple links to a handle of someone on Ebay, nothing else. But most of the associated text appeared to be in German.
No such denomination is listed in the "Coin Denominations" section of some pre-2008 editions of the 20th Century Krause volume. "Paisa", "paise", and "piastre" are all denominations used in some Muslim countries. India and Bhutan have used "pice" and India formerly used "pie". On Google this thread is the first "hit" for the word "piasibe", and there is an occasional seller on EBay's German site using that as his screen name, but nothing else relevant shows up. Pictures please!
To put it another way - How did you convert the clear "TR" on the coin to "IB"? BTW to answer your original question, the word "CYPRVS" on the coin translates to "Cyprus", a Mediterranean island nation.
