That would be Davis 25, though he lists no variants.
I find the technique of incuse lettering in a raised rim interesting. Invented by Boulton and Watt, it was first used on coins of the Madras presidency in 1794. It was the reason why Boulton and Watt could take business away from the London mint. That mint recovered eventually, but this token shows that 37 years after its introduction, Boulton and Watt still used it as a selling point, albeit now for private customers.
The above story reminds me of the long series of bi-metallic tokens I am posting, while the modern version of that technique was introduced in Italy in 1982, now over 38 years ago. New has become cheap enough for token manufacturing in 3 to 4 decades.
Peter
