Watch List notes:

Offa, King of Mercia (757‑796), Penny, heavy coinage (c.792‑796), moneyer Ciolhard, +OFFA in two lines divided by beaded bar, uncial M above and REX below, outer beaded circle both sides. Rev, +CIOLHARD in two lunettes, fleurs in the left and right spandrels, divided by central horizontal beaded border, 1.20g (S.908; Chick. 203; Blunt ‑). Some dark toning on the obverse, slight flan edge loss in the eastern perimeter. Well detailed both sides, all legends immediately legible, the reverse especially strong with an excellent rendition of the moneyers name. Bold very fine, extremely rare.