Watch List notes:

SINCONA BRITISH COLLECTION – PART 4. GREAT BRITAIN. GEORGE III. 1760-1820.
1/2 Guinea 1798/7, London. Fifth laureate head. Spade shaped shield. 4.18 g. Spink 3735. Bull 843 (R). Fr. 362. Leicht bearbeitet / Slightly tooled. NGC AU Details.
(~€ 650/USD 700)

NGC has assessed this coin as "REPAIRED", however we see no evidence of this.