This is a 1745 LIMA shilling struck under the reign of King George II. The coin was struck from a large hoard of silver from the Spanish Admiral Anson's squadron when it was being shipped from Lima back to Spain. 

Featured is a shilling of George II This particular example of a George II old head Shilling is a "Lima" issue. Lima coins of George II are some of the more sought-after pieces amongst collectors of British coinage. They were minted in 1745-46 using a large hoard of silver captured from the Spanish by Admiral Anson's squadron operating in the Pacific Ocean. 

The word “Lima” under the bust represents that the silver was captured in raids on the Spanish settlements in the New World in what now is Peru. (All of Latin American sans Brazil was called El Peru. Individual countries independent from Spain didn’t emerge in South and Central America until the 19th century.) The state of war between England and Spain was normal state of affairs for more than a century.