Clay coin indicates Jewish mayor of Jerusalem 2,700 years ago

The find is important because it indicates Jerusalem had mayors back then and the mayor was Jewish. It validates the history recorded in the Bible.

This has serious implications for modern politics.

Nobody really knows what the letters say. It's written in Proto-Sinaitic script that predates Hebrew. It is derived from Egyptian script and exists between Egyptian hieroglyphs and Proto-Hebrew. See Wikipedia for examples.

So, your guess is good as mine. My guess is good as yours. Here's my guess. The place where I'd start guessing.

In ancient times before Jerusalem was a walled city, before the first temple, Jerusalem was a temporary town that existed by the regular confluence of nomadic tribes. It was a temporary tent city that existed for a few month every few years until the nomads dispersed again and nothing existed on the hill until the tribes reassembled again. The name of the place of assembly was intermittently called Jebu and Salem. Back and forth for decades and centuries, Jebu then Salem, Jebu, Salem, Jebu, Salem, eventually Jebu-Salem, then later Jerusalem. The place went by very many names.

The Egyptian word for "mayor" is HAty-a. A guttural H, and I don't know what kind of A. I see the lion and I think the sound "hat." I have no idea if that sound is right. There are other words for types of district governors. So this is just a start. I'd look for the Proto-Sinaitic, pre-Proto Hebrew to vaguely resemble something like this.

And I would't look for the Hebrew word for Jerusalem, rather, I'd look for something resembling its precursors. The coin dates from the time of the first temple, the period following the nomadic period when the town was temporary. At this point it is an actual town with a temple. The Jewish scripture has 72 different Hebrew names for Jerusalem. Whatever is written on the coin is in a script predating this.

The lion is the sound "HAty" and the arm is the sound "ah." 

I'm most likely wrong, but it's still the first place that I'd start.

But I meant to say, so you found a non-monitary ancient souvenir coin. 

So did I. 

I found two pennies on the garage floor right next to each other. And that's nothing to sneeze at. On my way out to spending exactly 11,500 x that much on groceries. The total was $230.00.