It would help if you gave us more information, like size, weight, metal composition, etc . . . . But until then, compare yours to this: http://www.coinarchives.com/w/lotviewer.php?LotID=516355&AucID=374&Lot=1073 Ribbit Ps: It may be a counterfeit.
Its meant to be a 2 escudo (presumably gold) from a Spanish colonial mint (Lima) during the reign of Philip V. The date is 170-something. I couldn't comment on authenticity, not having looked at this gold coinage.
That last digit doesn't look right. It looks like a partial zero, but it may be a 5. :kewl: http://www.coinarchives.com/w/lotviewer.php?LotID=531415&AucID=386&Lot=4111 Ribbit Ps: Do you have a 1705 2 Escudos that you can post for comparison? I can't find one.