Watch List notes:

Carmarthen, John Morgan, uniface Pattern for the obv. of a Halfpenny 1792, by J.G. Hancock, view of interior of ironworks, IOHN MORGANS IRON WORKS 1792 CARMARTHEN around, rev blank, edge PAYABLE AT LONDON BRISTOL AND CARMARTHEN, 30mm/14.69gm (DH 1; Dykes, 2011). good
Extremely Fine and patinated with a trace of lustre, extremely rare.

Bought for 42/- by Cokayne in Nov. 1696; Ex. F S Cokayne Col. acquired Baldwin c.1946, his ticket; Ex. Spink 24 Jan 2008, lot 237.