Is It Real

Have a look into the hole for metal texture.
Need a powerful loupe or USB microscope to do this; does one of your friends have one, or a loupe?
There is the possibility that silver crystallization could be found, lending support to the idea that this coin could be centuries old.
Silver crystallization takes centuries to develop.

For examples of silver crystallization, refer to Google Images search: 'Ancient coin silver crystallization'.
Silver crystallization will greatly weaken a silver object and in this case may have been the cause, and why the hole was broken out.
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Jim: I like your avatar; I have a dozen or so car wash tokens of exactly the same design!

Depends how thick it is. It appears to be a William I PAXS penny. 1083-1086

However the details are not as crisp as I would expect and the edges make it look thick, as if it were a pewter replica. Real silver pennies are thin.

Bit like this maybe?

http://dorchesters.com/william-i-th...ny-paxs-type

Real ones weigh 1.2g-1.4g Replicas double that probably...
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Could be a Norman coin u have paxs in the quadrants and what could be pillem on obverse