1787 Shilling? Coin Or Pendant? Gold Surface

Gilded George 111 silver shilling.
Was part of a jewelry piece.
The suspension loop looks to be worn, as does the rest of the coin

Was plated a very long time a go, the gold is thinning out for two reasons:
1. Most of the plating has worn off.
2. Gold atoms have penetrated into the silver below, and some of silver have penetrated in the opposite direction. There is normally an atomic exchange that happens very slowly, over a period of several decades at the interface between the two metals.
That is why this gold plated silver coin appears to be so pale.

to the Community!

I would say any value left in that now is as a jewelry piece. It is not a scarce date and you can probably pick up an undamaged specimen in much better condition for $20 to $40. Any serious coin collector would not want one with a loop in their collection, but jewelry wearers might like to have it on a pendant or bracelet.