@yiorgos, it would be helpful to have a pic of the back, diameter, and weight for this piece. The front looks like a Morgan Dollar--is the color correct on your photo or is it actually silver?
"If you climb a good tree, you get a push." -----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed." -----King Adz
A picture of the reverse will determine whether it is an actual coin. If it is genuine, then by the looks of the rim it may have been enclosed in a bezel to make a piece of jewelry which would account for the wear.
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