Well, the coin is very worn, so this could explain a certain strangeness of the lettering. I have good and bad news : the good are that I can hardly imagine someone making a fake of such a poor quality ; so, my impresssion is that it is genuine. The cuts are probably tests to be sure that it is silver . Bad news are that in this condition, even though it is genuine, its value is low... 10-20 euros perhaps. The condition of the coin is very important in numismatics...