Update: Robert Kokotailo at Calgary Coin (http://www.calgarycoin.com)  helped to narrow this down to a Jetton from Nuremberg in the first half
of the 16th Century. Two similar ones are this one by Iorg Schultes http://users.bigpond.com/gcates/jetons/jeton11.jpg who lived in Nuremburg during the first half of the 16th Century. Another similar one is this in UK Detector Finds database http://www.ukdfd.co.uk/ukdfddata/showrecords.php?product=9965&cat=all

Any help to give a specific ID to this would be greatly appreciated.

For those not familiar with Jettons see this page http://www.ukdfd.co.uk/pages/nuremberg-jetons.html, or this http://www.users.bigpond.com/gcates/jetons/ or this one  http://c.cater.users.btopenworld.com/HTMLFiles/inscriptions_on_nuremburg_jetons.html for a brief overview of Jettons.

Metal: Base silver, billon or perhaps pewter
Size: ~27mm
Weight: ~2.3 grams

Obverse Design: Crown at 12 o'clock
Diamond center with 4 fleur de' lies
On each side of diamond are three annulars

Obverse Legend:
? Represents letters that cannot be deciphered.
_ Represents spaces where nothing can be seen
In several places two dots in a vertical line : form a word break.
 

Starting with the Crown at the 12 o'clock position:
NADO:?ABOR:NAD_____?DO
or
NABO:?ADOR:NAB_____?DO

Reverse Design:
Crown at 12 o'clock
Ship with 4 ropes reaching up to center mast. Ship is outlined with three lines, flag on bow and flag on the stern.

Reverse Legend:
? Represents letters that cannot be deciphered.
_ Represents spaces where nothing can be seen

Starting with the Crown at the 12 o'clock position:
???AVEBODV????RVDEBODAV