Heavy, wear And holes make a coin weigh less. If it looks nice I would agree fake. There are markets for forgeries though, someone had to have the original to make a copy usually, so maybe a collector cannot find that coin or afford it, so a good copy would be worth filling a spot in a collection.
I've had one of those before. It looked bronze in the pic but I bought it just in case it was just the lighting, it was pretty cheap, about NZ$10. When I got it, it was obvious it was a contemprary counterfeit that had been silver plated and the plating had worn off. I turned around and listed it as a contemporary counterfeit and sold it for $15, making a profit of $5. People like counterfeits and you can make decent money selling the contemporary ones.
I've found several of these along with shillings and half crowns all of the same George III period whilst metal detecting. Counterfeiting seemed to be rife at the time
Does sound like a contemporary counterfeit, I have had a few of these which tend to be shillings that I have found, but all George III. The other thoughts are that it could be gilt/plated, I have had a few of those as well from auctions.
The contemporary counterfeits can go for a better price than you think, all depends on the coin itself but I have seen them go for around 2/3 their genuine article price.
Restoration addict : Verdigris Removal : Zinc White spot removal : Iron Rust Removal : Silver brooch/necklace mount Removal
