A number of 18th and early 19th century tokens and medals depicted Hope in a similar pose, leaning on an anchor as shown below. Perhaps the figure depicted here is a personification of Hope as well.
I went with Britannia based on reading Britannia was used as a symbol of British Naval power during that period. I thought of Hope, but always saw Hope leaning, so mis-mash, most likely Hope but Im not sure. I do have a button with a lady leaning in the same pose as Hope.