Based on the figure, it is definitely an Italian 5 centesimi. The "II" is positioned towards the downward part of the head, in the spot of the where the II was on the dug coin (I know the Napoleon was a III, but I knew that you could mistake the number, since the coin is corroded). On the VEII, the hair is a bit more sticking up than the NIII, similar in look to the dug coin. Finally, the sharp angle between the mustache and the head +neck is well seen, which is only present in a VEII. So your coin was minted between 1861-1867. I also attached Krause values for your coin.