The first type of Gillick bust had very poor definition around the area of Good Queen Bess's ear. A new master die was needed. The new master die was used for British coins from 1954, and as late as 1956 for New Zealand coins. This coin is a product of the first master die, with the indistict ear detail.
I also notice that the definition on the reverse is not much better, and I suspect that this is not due to wear, either. Therefore, I agree with SHAFT9a, in consideration of the reverse.
In relation to wear only, EF 40 would be about right.
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