A RARE gold coin has hit auction for £100k but there may be a bit of an obstacle taking it to the shops.
The colossal coin made to honour Queen Elizabeth II is set to fetch the whopping price when it goes under the hammer at auction.
Not known, clear with picture deskThe colossal one kilogram gold coin made to honour Queen Elizabeth II[/caption]
But it is not only the price that is hefty with the rare coin weighing a whopping one kilogram and made of solid gold.
Produced from pure 24 carat gold, it is one of only 15 ever made by the Royal Mint and will be quite a weight to lug around all day to the shops.
It was commissioned back in 2015 to celebrate the late-Queen Elizabeth II when she became the longest reigning monarch in the history of the United Kingdom – beating the previous record-holder Queen Victoria.
Weighing around 114 times heavier than the average 8.75 gram pound coin, the collectable has an official denomination of £1,000.
But it is estimated to achieve a staggering £100,000 to £125,000 when it goes under the hammer with Hansons Auctioneers in Etwall, Derbyshire.
Describing the disc as a “modern rarity”, William Hayward, coin valuer at Hansons, said it is particularly scarce as it features a portrait of Queen Elizabeth by designer James Butler.
This is in contrast to the effigy which appears on circulated coins.
William 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.
“From time to time The Royal Mint issues bullion coins in precious metals which have a much higher intrinsic value than their face value.
“They are legal tender but not meant for circulation. They are generally bought by investors or collectors who appreciate special editions as pieces of art.
He continued: “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.”
The seller of the coin, who has chosen to remain anonymous, purchased it for £7,500 in 2015 – less than ten times its current value.
William added: “The Yorkshire owner bought this coin from the Royal Mint on a bit of a whim back in 2015.
“It was made to celebrate the Longest Reigning Monarch in the history of United Kingdom.
“On September 9, 2015 Queen Elizabeth II had ruled for more than 63 years and 216 days surpassing Queen Victoria’s time on the throne.
“It cost him around £7,500 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.”
The one kilogram Longest Reigning Monarch gold coin will be offered in Hansons’ Historica, Coins and Banknotes Auction on November 16.
Coins with rare designs or to commemorate historic figures and events such as The Olympics often attract high values.
Use experts like Coin Hunter to check over your change and see how much it could be worth or refer to the Changechecker scarcity index.
It is worth looking at how other rare coins have sold on eBay
Watch out for fakes though.
Get your coin verified by The Royal Mint to reassure buyers that they’re paying for the real deal if you try to sell it as this can bump up the price.
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