Obv: View of castle ruins, DUDLEY PRIORY. around. Rev: A cypher E D, with laurel wreath below, E. DAVIES NAIL FACTOR DUDLEY around. Edge: I PROMISE TO PAY ON DEMAND THE BEARER ONE PENNY. Uncirculated. Bronzed with dappled toning. Choice surfaces. Rare. Penny.
There was an Edward Davies who was a nail manufacturer at the time. With the rarity of these and the small mintage numbers, there is a good chance these were made as private tokens to give out to friends.