This is an example of the late, debased, third coinage of Henry VIII. Knowing how coinage had been debased in the past, Henry VIII did so again for his own personal benefit. He not only debased the gold coinage but the silver as well. This coin was struck at Southwark mint. The Southwark mint was in Suffolk Place, Southwark being immediately south of London Bridge. The mint was opened in June 1545, along with those of Canterbury, Durham House, Bristol, and York.