If it's really 52 mm (that is, just over 2 inches) in diameter, it's not going to be a real colonial coin for sure. Too large by far. The crude lettering and the absolutely cartoonish portrait don't help either.
It's obviously a fantasy piece but at this size (if true) I'm unconvinced that it was even intended to be a coin (even a fantasy one) as opposed to (e.g.) a coaster or a paperweight (that happened to be done in coin-like style).
I wonder how much it weighs. At this size I'd guess maybe about 100 grams?
FWIW by the photos I don't get the impression that it could be silver; most likely some kind of bronze or brass.