This portrait of Mary and baby Jesus appears on many coins of the region. This one is from Bavaria, which was an independent German State at the time. The German Empire did not come together fully until 1871.
Since Lallous' coin is heavily polished and has undoubtedly been damaged by mounting it in a pendant, the value is strictly due to its silver content. There is no added value due to collector demand. The silver content of this coin is 0.54 troy ounces. At today's silver price, that is about $18 US dollars value. Look up the current price of silver at kitco.com.
The catalogs give collector value, subject to the concepts presented on our Terminology page. Here's what they say:
worn: $20 US dollars approximate catalog value
average circulated: $25
well preserved (like our picture): $50
fully uncirculated: $80
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