Sorry, not finding a match. Saussa is the closest I could find:
https://www.myfonts.com/fonts/linotype/saussa/

Can you provide more details about your sample? More letters, whether it was from a digital or print piece, its age, and country of origin could all help in IDing it.

However, by the looks of it, I suspect it is custom/hand lettered.

Thanks, but I have nothing else to give. I have software called 'Find My Font' and that normally comes up trumps... but not this time.
I tend to agree with your hand-lettered suggestion.

This word is the word。