Watch List notes:

Great Britain, Kings of Mercia. Coenwulf AR Penny. Transitional type. London(?), circa AD 797-798. Pendwine, moneyer. +CEИVVLF, Mercian M above, REX below; divided by broken beaded lines with central hooks, trefoils above, pellets below; all within border of pellets / PEИDVVIИE within circular linear border, part of which forms a voided long cross surrounding partly beaded long cross connected to beaded outer border. Naismith L5a; S.912A. 1.14g, 21mm, 6h.

Good Very Fine; old cabinet tone. Extremely Rare, perhaps the third known example.

From the inventory of Fortuna Fine Arts, Ltd. (New York).