This is a beautiful copy of a large hammered coin which is rare in VF condition.
It is a shilling from the reign of Phillip and Mary 1554-1558. Large quantities of these shillings were minted during this period when, after an Act of Parliament pronouncing that a woman was unfit to rule alone, Mary reigned jointly with her husband Phillip of Spain. To indicate dual sovereignty ad boost Phillip’s popularity, both their busts are found on these coins. All issues were struck at the tower mint and many were dated as this example is ie. 1555.