Ron Guth: This large, copper coin was made in England for sale to collectors and to promote the personage of Washington, arguably the most popular figure of his time. This variety is called the ASYLUM edge because of the inscription stamped into the edge of the coin: AN ASYLUM FOR THE OPPRESS'D OF ALL NATIONS (referring to the welcoming ideal of the American continent). These can be found in high circulated grades and, occasionally, Mint State. Examples with any degree of original red color are extremely rare.
Stack’s/Bowers 8/2013:4006, not sold