Watch List notes:

TOKENS, Lincolnshire. Spalding. CU Halfpenny (29mm, 10.06 g, 12h). Dated 1794. SUCCESS TO THE COMMERCE OF BRITAIN, Britannia standing left, holding olive branch, shield and spear; in background, ships at sea; to right, man plowing left above man toiling right; small lion in exergue / SPALDING HALFPENNY̥ 1794, a cypher TI in a shield between sprigs of flowers; crest, a demi-lion. Edge: PAYABLE AT T. IENNINGS'S SPALDING & HOLBEACH – x –. D&H 6. EF, brown surfaces.

From the Quentin Brisley Collection of British Tokens.