Watch List notes:

William I (1066-1087), 'PAXS' Type, Penny, 1083-1086, Gloucester, Sigelac, + PILLELMREX [sic], the MR ligate, crowned bust facing, 'annulet on shoulder', sceptre in right field, rev. + SILAC ON GLPEC, unbarred A, cross potent, P A X S in angles, commencing in second quarter, 1.39g [21.1grns], 12h (W J Andrews [BNJ, 1905], Pl. III, no. 8 [Beaworth] same dies; SCBI 19 [Gloucestershire], 423-425, cf. 423-424 same dies; SNC, December 1991, no. 7981 same dies; North 849; BMC VIII [no. 680]; Spink 1257), rich old dark cabinet tone, on a pleasingly round flan, a most attractively bold very fine to about extremely fine in most parts, extremely rare, and dine linked to the famous Beaworth (1834) hoard.
Provenance,
G V Doubleday, Glendining, 8 June 1988, lot 689* - "obverse nearly very fine, reverse nearly extremely fine, the moneyer rare (only five in Beaworth Hoard); ex Duke of Argyll and W J Lawson (158)" - £120,
W J Lawson, of Rothes, Glendining, 19-20 July 1954, lot 158 [part] - very fine - £13.0.0
Duke of Argyll, collection purchased en bloc by Spink, 1949,
Presumably:,
SNC, May-June 1923, no. 18678 - "rare variety, RR., F.D.C." - £1.5.0
Estimate: £500 - £700