Regarding the obverse, The Glorious First of June refers to a 1794 engagement between the British and French fleets. It was wildly celebrated as an overwhelming victory in Britain, but the truth was that while the French certainly suffered the greater losses in warships and sailors, the British failed to attain their main goal, which was to prevent a convoy of ships carrying grain from reaching France. Here's a link to an account of the battle:
As for the reverse, it should be understood that so far as most British subjects were concerned, the chaos characterizing Revolutionary France was to be feared, reviled, and ridiculed. Accordingly, interpreting the "Map of France", we see honor being trampled underfoot, the monarchy (throne) overturned, the country divided (FRA-NCE), glory defiled, religion broken to pieces, with destruction and death lurking in every quarter.
The edge carries the vague promise, "CURRENT EVERY WHERE".
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