This penny was hand struck during the reign of King Edward I who ruled from 1272 until 1307. It is silver, and at that time the penny was the only denomination in general circulation.
It is known as a "long cross" penny due to the cross on the reverse extending to the edges of the coin. Earlier pennies had a "short cross" which only extended to the inner circle of pellets. Unscrupulous people had a habit of shaving a tiny amount of silver from the edge of a coin before spending it, over a period of time accumulating a stash of silver shavings. Some coins bacame quite underweight, and the long cross was introduced in an effort to stop such practices.
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