Obverse:

HENRIC VIII DI GRA REX AGL Z FR. St Michael slaying dragon,

Reverse:

PER CRVCE TVA SAKVA NOS EPX REDE. Ship sailing r. quartered shield of arms at deck, h and rose at mast.

About very fine, full flan, thin edge at 12 to 2 o'clock resulting in softer strike area (corresponds to reverse), scrape above head, scrape and split at 3 o'clock otherwise a very pleasing example with more detail than most.