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This penny was minted by Gileberd in Exeter during the reign of King John, but it shows the portrait of his father Henry II. Both John and his brother King Richard seem happy to have left their fierce father - brandishing his sceptre like a weapon - on their pennies, perhaps for reasons of economy.

I wonder how many hands it passed through? This was the time of the legendary Robin Hood - was it stolen from a rich person and given to the poor? What was happening between 1205 and 1207? Genghis Khan founded the Mongol Empire. In Britain a new borough was founded by King John: Liverpool.

The inscription (partially erased) reads "Henricus Rex" on the head side, with "Gile[berd.on.]Ec" on the the reverse. It's a class 5b1 or 5b2, one of several reissues of a very successful coin - these pennies were in circulation from 1180 to 1247. Imagine having a 1943 penny in your pocket, and still being able to spend it today.

It was replaced by a penny with a "long" cross, where the arms of the symbol extended to the edge of the coin. This was to stop people illegally clipping silver off the edges. Proof (if needed) that dodgy dealings in money markets are nothing new.