Ireland - 1769, possible merchant token?

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Hi

 

This Irish based coin has some letters struck on it. I wonder if this coin could have been used as a token by some merchant/company.

I know that there are many merchant tokens in Great Britain during this period but they have their own design and were minted at company's request. My coin is 7.34g, 28mm. Could someone give me a hint on this one please?

 

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