1968 Ludovicus Rex Medallion?

The popular use of IV instead of IIII is quite recent.

Google Louis 14th coins.

BTW nice medallion. How big?

Not very strange on Louis XIV coins/medals

Erinmostowfi, what you have is a restrike or a fantasy piece designed from a jeton of Louis XIV of France.

The obverse is a fairly common design of a bust of Louis. There was an enormous number of reverses struck. Jettons were counting piece used to help accountants and such to help convert the different monies used. for example above Petrus posted a 1656 Liard de France this would have a slightly different value than say a Liard D'Orleans. France, although it was France, it was made up of Cities and regions that often had their own money and government.

Jetons evolved to become more, they were struck sometimes to raise capital (like modern commemoratives) and sometimes used for emergency money.

France has a long and sordid history of economic upheaval from the fall of the Roman Empire to the fall of the Fourth Republic when money was devalued by 99%.

It is a lovely piece, but it has a limited value. If it were mine I would not let it go. It was from your Grandmother's, so it is already three generations old. That is worth hanging onto.