It isn't Australian but from prior reading it comes from the Commonwealth days of England when the king I believe was deposed by the people and one Oliver Cromwell became head of state (eventually the monarchy was restored.) From the roman numeral of a five I am guessing either Five Shillings or Five Pence (Less likely than the former) tho depends on the size of the coin itself. If large put money on Five shillings or if small Five pence. Can't advise on value however but I believe there is a British forum on here somewhere.
P.s. I believe the coin has been clipped or sanded down on the rim either to test authenticity or to remove silver but then pass off as full value
Due to the age of it, I would expect that the grade would be VF. 2750 Pounds sounds great especially when converted to Australian dollars would make it worth closer to $4500
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