This cufflink contains shows both sides of a Alfred The Great Hammered penny. One side is on one cuff link and the other side is showing on the other. Both cuff links contain a full coin glued stongly onto the cufflink. Here's the description of the Alfred the Great coin that is on this cuff link ...
Alfred the Great "Lunette" Type Penny. One of his earliest coins, minted in Canterbury, England.
Obverse shows Alfred facing right with legend "AELRRED REX"
Reverse shows "DMO EALHER NETA" It shows the Moneyer Ealhere at Canterbury.