Watch List notes:

(x) Mercia, Coenwulf (796-821), Penny, 1.35g, 12h, three line type, c.796-797, London, Winoth, cenvvlf, retrograde n, uncial m above, r:e:x below, divided by broken beaded bars with central hooks, rev. vv / in / o / t, lozenge O, legend begins at 9 o'clock, within angles of beaded long cross, three arms terminating in an uncial m, the lower arm with two parallel lines terminating in hooks (cf. Naismith 7a same obverse die, same reverse type but moneyer's name not retrograde; N.-; cf. S.912A), patchy tone, slightly wavy flan with a little edge loss, good very fine, the second known example of this Offa-Coenwulf type, and unique with the moneyer's name reading clockwise on the reverse.
Provenance:
Spink auction 225, 22-23 September 2014, lot 88
Found near Bedford, Bedfordshire, April 2014, EMC 2014.0119

Estimate: £2,000 - £2,500