8 Reale Cob: What Kind Is It?

Hey guys, so my brother recently got a gift from my grandfather. He used to be a somewhat avid metal detector, and got this reale back in the late 60's.

I have no idea what year or kind of reale cob it would be, I've heard there are different types

Any help is largely appreciated, but it's fine if you can't figure out anything (the coin is pretty damaged) Also, the reale is made like a pendant kind of, so don't mind that ring around it