A rare coin minted to honour Queen Elizabeth II could fetch more than $240,000 at auction this week.
The 1kg coin, made of 24-carat gold, features five effigies of the late monarch, her royal cypher and the phrase “the longest reign”.
It will be included in Hansons Auctioneers’ Historica Coins and Banknotes Auction on November 16.
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“The Yorkshire owner bought this coin from the Royal Mint on a bit of a whim back in 2015,” Hansons coin valuer William Hayward said.
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The coin was made to celebrate Queen Elizabeth II becoming the longest-reigning monarch in United Kingdom history. The late queen surpassed Queen Victoria’s record of 63 years and 216 days on September 9, 2015.
“It cost him around £7500 ($AU14,418) in 2015 but, thanks to its rarity and soaring gold prices, it will be offered at auction with an estimate of £100,000-£125,000 ($AU192,243-$AU240,304),” Hayward said.
“It’s so scarce examples of this particular coin virtually never come to market. For a keen coin collector with deep pockets, it’s an extremely rare opportunity.”
A rare coin is expected to be sold for up to more than $240,000 at auction later this month. Credit: Supplied
The coin is legal tender, but not meant for circulation.
“From time to time the Royal Mint issues bullion coins in precious metals which have a much higher intrinsic value than their face value,” Hayward said. “They are generally bought by investors or collectors who appreciate special editions as pieces of art.
“The coin is also important because it features a portrait of Queen Elizabeth by James Butler rather than the usual definitive effigy of the monarch we’re so familiar with seeing on coins.
“That makes it a modern rarity.”
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