Watch List notes:

Victoria, penny, 1860, toothed border, young head l., E over P in PENNY, signature below cape rev. Britannia seated r., with shield and trident, LCW below shield (M. BP 1860 NA) [Unlisted by either Peck or Freeman], extremely rare, about uncirculated
This is the finest example known and the only example in such high grade with a fair amount of original lustre. Only 3 or 4 examples of this very rare variety are known, with the previous highest grade listed as very fine.
(3500-4000 GBP)