Stephen, AR penny, Money Falche, Wilton mint. Watford type Var. 1136-1145 AD, 1.35 gr.

Obv: +STIEFNE:[RE?], crowned bust right, holding sceptre, 
large pellet below bust and legend with a second large pellet before. 
Rev: +FA.LCHE:ON:PIL, cross moline and fleurs, large pellet after A in moneyer name.

Very rare (only five others recorded in EMC) but the additional 
large pellets are unique.

S. 1278; N. 873; EMC 2012.0144 (this coin), BMC type i var.

Found Broadway, Worcestershire, UK; recorded with Early Medieval Corpus.

The presence of a large, slightly oval pellet below the bust 
and before the legend on the obverse and another within the 
moneyer name to the reverse is a previously unknown variant. 
These pellets are carefully placed utilising a different 
punch from those used elsewhere in the design but the reason 
for their insertion is unknown.
Courtesy of TimeLine Auctions (www.timelineauctions.com), October, 2012