William I (The Conqueror), 1066-87. Cut Penny (Halfpenny), c.1074-77. Two Stars Type.
 
Obv: Crowned facing bust with stars flanking. Rev: Cross botonnée with central annulet over quadrilateral with incurved sides.
 
Reference: S. 1254; North 845.
 
An old collection tone, an attractively struck piece with a strong portrait. A choice example of a cut penny.