You are right in assuming that it is a replica; cast in base metal, and most probably silver plated. If you examine the edge, you find evidence of a joint of the casting molds.
It is a copy of one of the most celebrated silver coins of ancient Greece: a silver decadrachm of Syracuse, originals struck in about 400 BC, and signed by the engraver of the dies, either Euianetios of Kimon.
Authentic examples of this coin often command more than $20,000 at public auction. They are a triumph of ancient Greek art, and that provides one of the reasons why they are so often copied.
The more humble collectors such as myself, can only hope to obtain a copy, due to the high value of authentic pieces.
For more images search Google Images 'Syracuse Decadrachm'
At least, I consider myself fortunate enough to have made a tourist visit to Syracuse in Sicily, and that was an education in itself.
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