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Riddle of the Runes?

521966. SOLD $2450

ANGLO-SAXON, Kings of Wessex. Alfred the Great. 871-899. AR Penny (19mm, 1.30 g, 12h). Two-line (’Guthram’) type (BMC xiv). Mercian mint; Ludig, moneyer. Struck circa 880-899. + EL FR ED RE, small cross pattée; pellet in fourth quarter / LVDIG/MON in two lines; pellet between. SCBI 2 (Hunterian), 573 var. (no pellet on obv.); North 636; SCBC 1066. Series of peck marks on reverse. Toned. VF.

Ex Allan Williams Collection (Part IV, Spink 259, 29 January 2019), lot 487; Noble 50 (21 March 1996), lot 2528; Spink Australia 19 (16 July 1986), lot 1854.

The curious array of peck marks on the reverse bears a vague resemblance to a runic inscription.