I just don't see enough letters or numerals on the coin to be sure. When I review the catalog for Spain, Portugal and the New World, one of the Philips from the 1600s Bolivia comes the closest. There must be people out there that can recognize this piece much better than I can. If you search online images of Cobs, something that points you in the right direction may pop up.
Spain, Portugal and the New World Is the name of the catalog. But researching online images of auction sales are often much better. I do have trouble in finding a coin with that"8" on the right side of the shield in Bolivia. I wonder if it's something else? Or maybe I just have not found a suitable matching image yet. I'm turning my attention back to Spain and Mexico instead of Bolivia.
@1c5, consider asking the mods to move this thread to the world coin section of CCF so that the Spanish cob/real experts will see it. There are several who hang out over there, but may not bother looking here that often.
"If you climb a good tree, you get a push." -----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed." -----King Adz