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The 'ribbon' on this 1859 is die clashing, explained on Gouby's website, where he now also references Peck 404. The 'overlay' picture below also highlights the 'clash' area.

It's definitely a London coin, but not class 1 or Henry II because the N and D are ligated (joined together). If memory serves me right that feature first occurred on class IVa, which was issued under Richard I, but the lettering style isn't right for that. My guess would be class V or VI (so John or Henry III) and judging by the position of the O of ON probably a moneyer with five letters in his name. A bit more research could probably tie the class and maybe even the moneyer down a bit. Edit: you beat me to it Ukstu; I was glancing through my copies of Mass and Slevin for inspiration, but we seem to broadly agree on class 5 or 6.

cheers Stuart 👍

many thanks for looking into this, the previous owner was a long time ago before I would have got it circa 1990's so Its great to finally have these looked and corrected, as all that I now have identified live in a page with others and I retain all of the information with the coins...albeit parts of coins .... very well done and much appreciated 🙏

Bit later in my opinion H. Its giving Class 5c - 6a vibes based on the lettering style and what i can see of the beard strokes. The S as well with the little tails & lack of pellet in the middle of it.

Bawbees are notorious for having circulated deep into the 18th century by which time they were barely identifiable - so this rather decent 1679 example is an exception to the beater bawbee rule.