Possible Countermark [opgelost]

Hello, this coin has the back of a USA indian head cent but the front was punched over with something else. My google searching has led me to believe that it is a countermark, but I'm not sure.

EDIT: it wouldn't be considered a countermark, it would be consiered an overstrike.

I found a royal monogram that looks very similar to it
https://commons.wikimedia.org/wiki/File:Royal_Monogram_of_King_George_IV_of_Great_Britain,_Variant.svg

I don't think it's an exact match though, plus George IV died in 1830 and indian head cents ran from 1859-1909 which makes it unlikely that it is the monogram of a 30+ years dead king, but I am assuming it is a UK royal monogram because it looks so similar.

Maybe IBC?

In Spain around the start of the 1900's, bronce coins and even some silver ones were usually engraved with the initials of a new born or themes like that and they usually have this kind of "beautifull writing"... It could be a posibility

Months or a year ago i gave a similar answer around here but I am not able to find it now to leave it to you as example

First of all, try to get your ducks in the same row by following this procedure https://en.numista.com/forum/topic71935.html

The reply of klei92 sounds likely. My guess it is a love token -
where one side of a coin is smoothed away, then engraved with the initials of the loved one.
I have this in my collection, with JC engraved in the same italic style as yours on the reverse -
plus mine, a copper coin, also has a smaller silver coin added in the middle of the obverse.