I can't see anything wrong with that - reasonable condition 1720 Farthing. There are two main versions depending on letter size. I believe yours is standard rather than large letters. I think it would make around £10 to £15 on ebay - but you may get more if someone really wants one. (There are some listed for vastly more, but they remain unsold and are likely to stay that way!) Grade at VG or maybe aF - book price around £20 to £30.
Yes, it is a regal issue 'dump' farthing. It has been cleaned in the past, and has since re-toned. Decent remaining detail for the issue, but not of much worth (around the $10-20 retail mark).
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