Obverse:

HENRIC DI GRA REX ANGL Z FRA. St Michael slaying dragon

Reverse:

PER CRVCE TVA SALVA NOS XPE RED. Ship sailing r. quartered shield of arms at deck, h and rose at mast.

Approaching very fine, full flan and perfectly centered, clear and full legend, 2.5mm split at 4 o'clock otherwise a very pleasing example of this scarce issue.