The first thing you need to figure out is what it's made of. The density test here can give a a good approximation:
https://en.numista.com/numisdoc/determining-the-metal-of-a-coin-27.html
There are also a number of tests to determine whether or not its actually made of silver that you can look up pretty easily if the density test is unclear.
The diameter/design combo is definitely wrong for any pre-decimal UK silver coin that I know of. It's too small to be a 1/2 Crown, but that's the only silver with a similar design. I don't have a ton of experience with antique forgeries, but you may have a contemporary forgery of a sovereign where the gold has come off.