The reverse inscription reads OD.ON.O, which possibly refers to NOD.ON.O, which is not listed in Mack’s 1966 study.
Possibly that of the Moneyer’s can be read as the ending of the name AEthelnoth. He was known to have struck Henry I’s last type at Oxford, making this the first for this Moneyer for Stephen.
Similar to S1278/1288/1326 being cruder and with no inner circle on the obverse
High Rarity




