Watch List notes:

ANGLO-SAXON, Kings of Mercia. Coenwulf. 796-821. AR Penny (17mm, 1.41 g, 9h). Three-line type. London mint; Winenoth, moneyer. Struck 796-797/8. ·: m :·/ CEИVVLF/ · R:E·X· in three lines divided by two beaded bars with opposed hooks at center / VV IN O ∂ in quarters of beaded cross moline with solid lines in one arm. Naismith L7 var. (direction of rev. legend; same obv. die); EMC 2014.0119 (this coin); North –; cf. SCBC 912A. SOme edge loss, crimped. Good VF. Extremely rare – only one listed by Naismith.

From the Allan Williams Collection. Ex Spink 225 (22 September 2014), lot 88. Found near Bedford, Bedfordshire, April 2014.