The phrase is really "Florent victoria regna" 09:12 Dec 22, 2008
As the other answerers have suggested, the real text is "Florent victoria regna". The medal is a bit worn, so the text wasn't clear without a closer inspection.
In case you are interested, the medal turned out to be one issued to commemorate the 1745 Treaty of Fussen, between Austria and Bavaria. The text on the reverse side reads "Pax melior bello", which I understand to mean "Peace is better than war". Few would argue... ;-)
Thanks very much for your help. | 
peer agreement (net): +2
peer agreement (net): +3
