An interesting example! My thought is it's a continuation from the engraving of the die and not a deliberate element of the design, the portrait is definitely Edward III. I've seen similar ones before, e.g. the below.
Enjoy the description on this beauty.
https://www.ebay.co.uk/itm/Anglo-Saxon-Silver-Coin/223492329770?_trkparms=aid%3D222007%26algo%3DSIM.MBE%26ao%3D2%26asc%3D57478%26meid%3Dffbbf304db1e444980f83cbdef708e53%26pid%3D100005%26rk%3D6%26rkt%3D12%26sd%3D163663592092%26itm%3D223492329770&_trksid=p2047675.c100005.m1851
It looks to be an imitation of a Henry VII halfgroat (depending on diameter). I'd not think it's contemporary, it looks somewhat soapy which makes me think it's been cast and deliberately 'aged' as I see this a lot with the Westair pieces people modify before listing on online auction sites.
https://www.ebay.com/itm/ANGLO-SAXON-LOT-OF-CUT-OFFA-EADVVEARD-SILVER-PENNIES/282967930167?hash=item41e233f537:g:FQsAAOSwgKBawVa5
https://www.ebay.com/itm/ANGLO-SAXON-WULFRED-CUT-SILVER-PENNY-ARCHBISHOPS-OF-CANTERBURY-805-832-AD/282967930169?hash=item41e233f539:g:CqAAAOSw6T9awWNO
Others in the listings, too.
One of the best descriptions I've read in a while: https://www.ebay.co.uk/itm/coin-hammered-and-clipped-ultra-rare-collectable-tudor-princes-in-the-tower/323020174923?hash=item4b3580b64b:g:lMoAAOSwItJaV1kX
Ah. Mr Thomas/Michael Millard/Hibbs...
Have a look here where Tony describes him as ‘An Alleged Miscreant of the 21st Century’ and I can think of at least another dozen places he's listed including Robert Matthew's site here.
Convenient 'weak spot' where I expect WRL was on the reverse...
http://www.ebay.co.uk/itm/HENRY-8TH-VIII-STUNNING-PORTRAIT-POSTHUMOUS-SILVER-HAMMERED-GROAT-COIN-RARE-/272889438975?hash=item3f897a62ff:g:g4EAAOSwEthZ5G8y
Amazed he dug these up...
http://www.ebay.co.uk/itm/Colection-of-Brazilian-stamps-metal-Detecting-find-/292281968711?hash=item440d5ce847:g:9~wAAOSwY99ZjfiK
Thanks for the video, Declan. Much clearer and definitely not an Edward III. Looks to be a class 10cf penny of Edward I or II. There is some overlap of the reigns here.