Funnily there is a standing stone at this grid reference, it's not very tall though (a couple of feet max.).
I noticed it on the way from Gatcombe Lodge long barrow to The Bulwarks on Minchinhampton and noted the grid reference when I passed, never thinking anything more of it. This was before Chance added it to TMA.
(ST877999) Approximate site of Cobstone (1). Said by Playne to have been a remarkably fine standing stone which formerly lay on the edge of Minchinhampton Common due west of the Longstone (ST 89 NE 34) and due north of the Picked Stone (ST 89 NE 30). It was removed about 1835 for building purposes. (1-2)