Definitely a W. The W is two wedge punches with a broad base and a rounded-off inverted wedge in between pointed up; compare to the V in CIVI on the reverse, with a sharply pointed base and a hollow space between both diagonals.
The top of the left wedge punch in the W has been somewhat flattened by the rim damage in that area, but the bottom point of the wedge is clear and its leftmost diagonal is visible running up to the D in ED.
Another way to tell is to look at the spacing between ED and R and compare the size of that gap to the width of the V in CIVI.
As an aside, his name was originally spelled Eadweard in OE, and might have been pronounced something like AY-ad-vay-ard, with a very slight pause between each "e-a" and a slightly more breathy (open) final "d."
The "v" sound is preserved in the Scandinavian forms of his name (Edvard, e.g.)
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