I am not a professional grader, and you can't rely on this for pricing, valuation, appraisal, or estimation. I'm just a nobody with access to the internet and an opinion (and as we Americans say, "opinions are like a**holes -- everyone has one"). That being said, the price guide for this coin can be found at:
http://www.ngccoin.com/poplookup/WorldCoinPrices.aspx?category=80928&worldcoinid=220520
If I sent this off to be graded by NGC, I would expect it to be graded as follows: Fine (Details -- Cleaned). It looks like someone took a wire brush to both sides of this coin, and it looks like its had significant wear and tear over the years.
If I were buying this from a dealer, since its not made of pure silver, and due to the damage to the coin, I would expect to be charged around $5 or $6.
Again, this is just my opinion after 5 minutes of research. Don't hold me responsible if this turns out to be an ultra-rare variant! Use your own discretion.