Unknown Coin, Please Help ID

Hmm, that's an interesting one. Looks like German states; Bavaria would be my guess. I hope to have more accurate info for you when I get home from work.

edited to add: you've got the same pic posted twice. Can we see the other side?

Without seeing the other side, my best guess is still Bavaria, 1500's - it's not in Krause that I can find.

Here's a gold coin of Albert V of Bavaria from CoinArchives:

The arms is similar, and parts of the legend are similar (particularly PA RH and D BA).

That helps a bit... I think.

That's the name and titles of Emperor Rudolph II (reigned 1576-1612) on the orb side of that coin; Bavaria was Protestant at the time, and Rudolph II was staunchly Catholic, so Bavarian coins rarely shows Imperial titles like this. Digging further, I found that (Catholic) branches of the Bavarian family ruled the Rhine Palatinate (Pfalz) counties at the time in question.

Now there were some half a dozen of these Pfalz counties, each making their own coins. The best chance for identifying this particular count is in his initials given in the top picture: I believe it reads GE IO. The "best fit" for these initials is George Johann I, count of Pfalz-Veldenz 1543-1592. I couldn't find one of his coins (assuming he did actually make coins of his own), but I did find Here's a coin of George Gustav, a slightly later Count of Pfalz-Veldenz, on CoinArchive:


The legends around are identical to those on yours, except for the initials (yours is GE IO instead of GE GVS). The titles of emperor Rudolph II are the same, and the coat of arms is identical.

The "Z" on the orb is an archaic form of the number "2", and indicates the denomination: this is a 2 kreuzer piece.

Krause doesn't go back that far yet, and often the smaller denominations aren't thoroughly covered. So, here's my tentative attribution:

Pfalz-Veldenz 2 kreuzer, undated, circa 1576-1592, in the names of Emperor Rudolph II and Count George Johann I.

As it's not in a catalogue that I can find, I can only guess at the value. Other 2 kreuzer coins, from other branches of Pfalz which have been listed in Krause, catalogue around $25 in VG condition. Given that yours has been holed, I'd guess somewhere in the $10 to $20 range for it.