medieval coin with cross on obverse and "M" and "8" on reverse with spires

Good evening everyone-
I came across this recently and have been trying to identify it. the coin measured 26 mm and weighs in at 8.35 grams. As you can see, the obverse has a cross with different symbols although coming very close to being worn together.
the reverse side appears to be two spires, or lit candles with an "M" to the right of the right-hand flame, and an "8" that is between the 2 flames.
It looks like it may be of some low-grade billon, and I see some very light pitting in spots on the reverse side.
And any recommendations on presents for the wife would be appreciated! Time is running out, both to get her gifts, and for me if I don't!
Just kidding y'all... or am I?
Merry Christmas one and all!

 

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It's a replica of either an 8 reales or 8 escudos Spanish coin.

 

thanks Yolo--- I figured it was a replica (toning), but wanted to be sure. I had originally thought of the 8 reale coin but didn't find anything to match... I never considered to look at the escudos; I looked it up and immediately saw the match.
To the best of my knowledge Spain didn't water down their coins much like the Romans did. But--- that' only to my knowledge, and I'm still learning a lot.
Thanks again, Mr. Bagels...

 

Unfortunately, in the photo it very much looks like a modern sand cast copy. Weak watery details, many air bubbles, uniform finish, etc.

SC

 

Thanks SC, you've given me some things to research on this...

 

Yes, it is brass cast copy, a poor one at that, of what appears to be a Lima 8 escudos, assayer M. I can't make out the date, but it might be (1)731.