Watch List notes:

Aethelred II (978-1016), Penny, Last Small Cross type, Chester, Ælfstan, 1.28g, 12h, + æðelræd rex ang, diademed and draped bust left, rev. + ælfst[an] on leig, small cross pattée (SCBI 5 (Chester) 157 same dies, and 160 same obverse die; SCBI 27 (Midlands) 277 same dies; De Witt 3079 same dies; Lessen II, same reverse die; Hildebrand type A, 1489; BMC I; N.777; S.1154), slightly crimped flan, otherwise the portrait sharply struck and framed by old cabinet toning, a pleasing very fine or better for issue.
Provenance
DNW, 28 September 2005, lot 522, wherein formerly graded AU50, by ICG
Estimate: £220 - £280