British hammered, Charles II, hammered 2d, third issue c. 1660-2, Great Recoinage of 1696 piercing

During the Great Recoinage of 1696, all hammered coins in circulation were withdrawn. As most milled coins issued in the previous decades had been hoarded, there was then a resulting shortage of coins in circulation. While all the clipped hammered coins were melted down, coins of good weight were officially pierced and returned to circulation in May 1696. However, the general public did not like the pierced coinage and they were withdrawn in December of the same year, and melted. Surviving examples are rare. 

VF, well-centered piercing. Rare.

Spink 3326; Charman 2019 passim (piercing)