Yes - coin is dated 1707 (just readable around the edge on the reverse - 8 to 10 o'clock.
We would need the diameter or weight to tell for sure, but the proportions look right for a sixpence. (The hole would be very large if it is a bigger denomination!)
Old coins like this are often holed for pendants or bracelets. Value like that is probably a little over melt just for the history, but not a lot.