This medal is #4 in the City of London Series. This is the bronze variant of the medal.
The City of London School traces its origins to a bequest of land by John Carpenter (mentioned on the reverse), town clerk of London. On his death in 1442, it was found that Carpenter had listed many bequests, most to his relatives but some to charitable causes. It appears that this medal mistakes his death for 1447 instead of 1442?