Assuming it is not weakly struck - XF45. If it is just poorly struck up, it could go as high as AU55.
Don't you think that coin has too much luster for XF 45?
It is a tough call on the luster from the picture. It appears to me to have enough for an AU-50, and the piece has smooth surfaces which is a big plus.
-- Retired dealer. I am a numismatic author. I specialize in choice early coins and poltitical tokens. I've been collecting coins, tokens and medals for over 50 years. Check my type sets! Type Set My gold type set Gold Type Set
I'm w/ Mark on this one. I was thinking AU55 and maybe an AU58 if they're generous. Everybody posting it as an XF made me seriously rethink my instincts and not post until now. I'm not much of a gold person but my guesses are usually pretty close despite my unfamiliarity with the series.