Italy, Parma, Alessandro Farnese, billon (base silver) parapagliola c. 1586-91, Alexander the Great depicted on the obverse, wearing a Corinthian helmet/bust of Alessandro Farnese left.
The legends read "AL.M. SPECVLVM"/"AL. F. SPECVLATOR" - a Renaissance joke; Alessandro Farnese (AL. F.) looks in the mirror (and thus is the speculator), and sees Alexander the Great (Alessandro Magno - AL. M).
VF+, weakly struck as usual, residual lustre on the reverse. Rare.