The half-n-half made the oval with the x across it pop out... not sure what the "Mickey Mouse ears" on the center oval are about. Never seen one of those.
I think PJDuff has your answer. I've seen this coin before but was having a hard time making up my mind about the 2 banners coming off the oval. The coin that "PJ" shows versus your coin is upside down. There is a 1736 Spanish coin that is similar but I think the 19th century Canadian half penny hits the design. NICE FIND.