It would worth about $ 50 I guess, but without hole... Unfortunately now, it's just a piece of metal, became such in stupid hands :( :(
The history (my own version) could be follow:
It is an error struck. Error strucks are quite plenty at Cairo mint, like these:

(image source: seller emlad. ebay)
But, as FAO coinage was funded by FAO, and not by government. They were responsible to control any error struck, to have a proof report. I think they numbered errors like your one counterstamped by number "4" . After showing a proof, probably coins were kept somewhere for years, but then melted or taken by workers.
Mint worker Ahmed took an error coin and gave to his son, Omar. Omar pierced it and hang on neck.

sad story...
yours
D