This is one of the many, many different tokens issued around the 1800s in Great Britain. It was struck in areas where there was a shortage of small change. It's a so-called 'non-local' issue, which means that it wasn't struck in a single shire or county.
The dies used to strike these tokens were used for a long time beyond the point where they had become worn and dull. It's common to find flatly struck specimens of the tokens. This means that you can have a token with sharp, brilliant detail in some areas of the design, while other parts of the design are completely flat and without detail. The token in our image is very well preserved, but the face of Britannia is flatly struck.
worn: $10 US dollars approximate catalog value
average circulated: $25
well preserved: $80
fully uncirculated: $140
The above values are educated guesses based on only a small amount of auction sales. Actual buy and sales values may differ significantly. Please refer to our Important Terminology page found at the top left in order to properly interpret the term 'catalog value'.