It's a 1 Quarto--or Cuarto-- (copper) coin minted in Manila, Philippines. http://manilagalleontrade.webs.com/fernandovii18081833.htm
A translation service offered this:
Obverse: FERD VII D G HISP ET IND R (Fernando VII by the king God grace of the Spains and the Indies) around a shield crowned of castles and lions with Granada in tip and escusón of the Borbonesen the center. Back: VTRVMQ VIRT I PROTECT DATE (protective of the virtue in both worlds) around a lion crowned with scepter and saber with two globes that represent the two worlds to its feet.
Don........
I wish I could say I found with my MD but I can't. Well, it's slightly embarrassing but I'll tell you. I was cleaning out a closet and found a small purse containing that cob as well as 1816 and 1853 large cents, 1882 Canadian LC, 1806 George III half penny, a British Jeton dated 1768, 1864 two cent piece and a 1692 William and Mary half penny along with a few other coins ! Scratched my head for a few minutes until I remembered my wife's ancient aunt had given me her modest mail order coin collection about 5 years ago when she moved into a nursing home. I recall seeing the purse in the box, looking at the big coppers then throwing the purse in the drawer for later research on the coins. Somehow I managed to forget the whole thing even while I sorted and carded all her other less interesting coins. I'm sure that's more than you want to know but there it is.