Silver cut farthing of Edward the Confessor
Found during archaeological excavations on the Cathedral Green, Winchester, in 1967
As the penny had a fairly high value there was a need for lower denominations, a problem that was solved by legally cutting the coins in halves or quarters and thus producing halfpennies and farthings. This example was struck by the moneyer Aelf(-). It was not until the reign of Edward I (1272-1307) that the first round halfpence and farthings appear.