Assuming the hole is in the 12 o'clock position,the "RO" as seen in the pic would indicate Carlos III (1759-1788) as a possibility. The diameter would tell its denomination: Use 20 mm for a 1R, 28 mm for a 2R; 34 mm for a 4R and 40 mm for an 8R.
Don....
PS: The legend would then read: CAROLVS III D.G. HISPAN. ET IND REX