Anglesey 148, 1788 penny counterfeits (Dalton & Hamer, page 351)

Thin wreath. Long-Topped P. Curved 1 and 7. Double acorns. 3 acorns at tie.
22 acorns in wreath.

148. O: Druid's head in a thin wreath of oak. Twenty-two acorns, eleven on 
        each side.
     R: A monogram cypher, P M Co. WE PROMISE TO PAY THE BEARER ONE PENNY 1788.
        Date above the cypher. 1 between N and Y.
     E: ON DEMAND IN LONDON LIVERPOOL OR ANGLESEY.

No. 148, scarce.

In some specimens the dot has the appearance of a dash.

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.

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