1938 Two Shilling Coin

I'm not sure what you mean about the edge - it should have a normal milled edge with relatively coarse milling.

In this condition it would be considered a bullion coin in the UK. These coins are made of 50% silver. From 1947 the metal was changed to cupro-nickel and the edge milling was made much finer; however, florins such as yours could still be found fairly frequently in circulation until the mid-1970s, when the silver content began to exceed the face value. These florins remained legal tender for ten pence alongside the new decimal 10p coin, which was the same size, until 1990 when they were replaced by the current smaller 10p coin.

Nice coin to fill a hole in an album.