Watch List notes:

ANGLO-SAXON, Anglo-Viking (Danish East Anglia). Imitations of Alfred the Great. Circa 885-915. AR Penny (19mm, 1.35 g, 6h). Londonia monogram type. Uncertain mint in the southern Danelaw. X ÆΓ(F inverted)R ED RE, diademed bust right / Londonia monogram; cruciform pellets above and below. MacKay, London, Danelaw Type A5, 19 var. (O19/R– [unlisted rev. die]; this coin referenced in note, querying authenticity); BMA 446 (same obv. die); MEC 8, 2361 (same obv. die); cf. North 464/463 (for obv./rev. types); SCBC 964. Crack along lower part of diadem repaired. In NGC encapsulation 5938193-006, graded XF Details, Damaged. Very rare.

Although the weight and silver content appeared good for a Danelaw issue, MacKay noted "minor inconsistencies" in the obverse compared to the other two examples of coins struck from this obverse die, which led him to conclude that the "coin is likely to be a clever forgery." Following further study, it is our opinion, and that of NGC, that the coin is perfectly genuine.