Watch List notes:

Henry IV or V, Quarter-Noble, Tower, class B / type V mule, 1.29g {19.9gns} 8h, i.m. pierced cross and pellet [20], {tall lettering}, double saltire stops, lys above shield, trefoils beside, annulets beneath, rev. trefoil after gloria, star-tipped quatrefoil, lys in centre (Stewartby, "Secondary/Primary phase', class B/P mule; Schneider 222, same obverse die/212; N.1381(2)/1357; S.1754/1717), struck with aging obverse dies, otherwise fine, the reverse considerably better for strike, very rare.
provenance
Lockdales 69, 16 November 2008, lot 807
Estimate: £600 - £800