Anglesey 154, 1788 penny counterfeits (Dalton & Hamer, page 351)

Denomination: penny, scarcity: Very rare (RR)
Thin wreath. Long-Topped P. Curved 1 and 7. Double acorns. 3 acorns at tie.
22 acorns in wreath.

154. O: Druid's head in a thin wreath of oak. Twenty-two acorns, different
        arrangement from No. 151. Same for Nos. 152-155.
     R: A monogram cypher, P M Co. WE PROMISE TO PAY THE BEARER ONE PENNY 1788.
        Date above the cypher. 1 slightly to left of Y. 8 under last limb of
        W, no flaw in scroll over T of "THE."
     E: ON DEMAND IN LONDON LIVERPOOL OR ANGLESEY.

No. 154, RR.

The counterfeits are usually in poor condition, badly struck and light weight. 
The letters of edge reading also differ in size and shape. They are not struck 
in collar.

Keywords

druid_head,pmco,we promise to pay the bearer one penny 1788