It's most likely we'll never know what this countermark means. There are tens of thousands of coins with a single letter, number or symbol countermark. Some may have been demonetized coins re-used as checks or tallies of some sorts. In other cases someone may just have been testing a punch.
It is, therefore, most certainly a private countermark. A state would normally use more complex countermarks to make sure that they are not forged.
For more, see
this Numisdoc and
my thread on countermarks.
₱o$₮ag€ $₮am₱$ a₹€ mo₹€ £€₲i₮ima₮€ a$ a ƒo₹m oƒ ¢u₹₹€nc¥ ₮ha₦ ₮h€ €₦₮i₹€ "¢oi₦" ₱₹odu¢₮io₦ oƒ ₦au₹u o₹ ₦iu€. ••• £€$ ₮im฿₹€$-₱o$₮€ $o₦₮ ₱£u$ £é₲i₮im€$ €₦ ₮a₦t qu'o฿j€₮$ mo₦é₮ai₹€$ qu€ £a ₱₹odu¢₮io₦ €₦₮iè₹€ d€ «mo₦₦ai€$» d€ ₦au₹u ou d€ ₦iu€.