This penny was produced in Scotland between 1280 and 1286 during the reign of King Alexander III (1249-1286). Coinage had been produced in Scotland since the capture of English silver mines by King David I in 1138.
Coins at this time were made by rolling out a weight of silver into a sheet and cutting it into discs. These were then placed on a small anvil bearing the king's head design and struck with a steel bunch bearing the cross design.
This coin is of the 2nd recoinage of Alexander III’s reign and was issued from 1280 until his death in 1286. The recoinage of 1280 came at same time as English recoinage, replacing the recoinage of 1250 following his inauguration.
The economic improvements during Alexander's reign led to a boom in minting and his coins are among the most common medieval Scottish coins that can be found today.
Photogrammetry photo set captured with iPhone 7. Edited in Blender.