Not a good picture, is that SPQR across the shield. Sen�tus Populusque R�m�nus (The Senate and People of Rome) appears on Roman coins, but this is not an Ancient. We'll probably need pics taken out of the 2" x 2" to give you a better idea.
Also possible that the fourth letter is not an R, as other European cities (after the fall of Rome) adopted the phrase and abbreviation for themselves: SPQL in London, SPQV in Venice, etc. Of course, the city of Rome still uses SPQR in its civic arms:
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