A COIN expert has revealed the exact date to spot on an ultra rare coin which could be worth hundreds of thousands of pounds.
The extremely rare Edward VIII is set to be sold at auction next month, and it’s expected to rake in £150,000 to £200,000.
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The coin, a halfcrown denomination, was never issued out to the public and there were only ever six made before the former king abdicated the throne in 1936.
Now, one of the special pieces has landed in the public domain in the hands of a private collector – and is set to be auctioned off by London-based auctioneers Noonans.
Noonans auctioneer and rare coin expert Tim Wilkes explained why the coin is such a valuable find.
He said: “Edward VIII abdicated in 1936 before any coins in his name were released into circulation in Britain.
“Patterns of each denomination had been prepared (all dated 1937) but at the time of the abdication they had not yet received royal approval.
“After the abdication the few coins which had been struck were locked away, and work began on the coinage of the new king, George VI.”
This halfcrown was designed by British designers T.H. Paget and G. Kruger Gray.
This example is one of only two that are thought to be in private hands – it was originally sold at auction in the US in 1978.
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That means that potentially another sale of this kind could take place if the other collector decides to sell up.
The other four are in the Royal Collection at the British Museum and two are in the Royal Mint’s collection.
Tim explained that it’s not known how the coins that were in private hands came to be in the public domain.
He added: “Opportunities to acquire any of these coins are very rare and we expect this coin to be keenly contested.”
The coin is the only one to ever be sold at auction and will be offered at Noonans’ auction of British coins, tokens and historical medals from September 19 to 20.
It is to fetch £150,000 to £200,000 for the lucky owner, according to Noonans.
While it’s unlikely you’ll find the one remaining coin in your spare change, it’s always worth keeping an eye out for a rare coin that could get you hundreds of pounds.
For example a coin with a minting error, when its been struck incorrectly, could be worth thousands of times its face value.
A £1 error “dual-dated” piece, has been known to sell for £2,500 in the past.
And, only 109,000 copies of the EU Presidency 50p coin were minted – making it rarer than the famous Kew Gardens 50p coin.
Below we explain how to check if your spare change could be worth some cash.
How do I check if my coin is rare?
Rare coins and valuable notes can be worth tens of thousands of times their face value.
But sometimes it’s just tiny differences which make them so lucrative.
The most valuable coins tend to be ones with low mintage numbers or an error.
Those qualities typically make them valuable to collectors.
For example, “New Pence” 2p coins from 1983 often sell for hundreds of pounds due to a mintage mistake – they stopped being called “New Pence” in 1981.
Meanwhile a 50p Olympic coin, which was released to celebrate the London 2012 Olympics, has a small error where the water passed directly over the swimmers face.
Perhaps the safest way of selling rare coins is to sell them at auction – to do this, contact The Royal Mint’s Collectors Service.
It has a team of experts who can help you authenticate and value your coin.
You’ll need to enquire via email, and a member of the valuation team will contact get back to you.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
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