Need help with ID on this cob

[West Jersey Detecting]

This cob was found by my friend Mark at a site that we have been detecting. We have found some buttons, coppers and early US coins, but this is the first Spanish Silver. The circle and line on the obverse are what baffles me.

 

Amazon Forum Fav 👍

DR.ÖTEK Metal Detector, Waterproof Gold Detector, Pinpoint & Terrain Modes, Professional Metal Detector - Grab it through Amazon!

[Mackaydon]

Reminds me of a 1/2 real from the reign of Carlos II ((1665-1700).

 

[umrgolf]

Reminds me of a 1/2 real from the reign of Carlos II ((1665-1700).

1st pic is upside down CAR

http://forum.treasurenet.com/index.php/topic,163466.html