An expert has explained what to look for
Brits have been urged to look out for an “ultra-rare” coin worth a fortune. A version of this piece sold back in 2020 for £1 million.
When it comes to coin collecting, there are a number of factors that play into how sought-after a coin is. One of the main draws is how rare a coin is.
Typically the rarer a coin is, the more someone will pay for it. This is the case with a certain type of coin from a very specific era of British history.
In a video posted to social media platform TikTok, an expert known as the Coin Collecting Wizard explained more. He told his followers to look out for any coins featuring King Edward VIII.
These coins are particularly rare because of the fact Edward VIII was king for less than one year before abdicating. The expert said: “Imagine a coin so rare it’s worth over £1 million.
“Let’s talk about the ultra-rare Edward VIII coins. Edward VIII was king for just 326 days in 1936 before abdicating to marry Wallis Simpson.” There were actually never any coins released during this time.
The expert continued: “Because of this, his coins were never officially released. Only a few trial pieces were made, including gold sovereigns and penny coins, making them some of the rarest British coins ever.
“So how much are they worth? One Edward VIII gold sovereign sold for £1 million in 2020.
“Even other trial coins can fetch hundreds of thousands.” As reported by Chards, this particular Edward VIII sovereign had been bought by a collector from the US in 2014 for £516,000.
It was then sold on to an anonymous collector based in the United Kingdom for nearly double that price in 2020. This made it the most expensive UK coin ever.
Chards explained: “The coin is part of only six sovereigns produced for a trial set in 1936. Of these six 22 carat gold sovereigns, four are held in museums and the remaining two now belong to private collectors.”
The expert issued a warning, though. He stated that if you find a King Edward VIII coin it could quite likely be a replica.
He added: “If you ever see one for sale, be cautious. It’s likely a replica.
“The real ones are in museums or private collections. Just remember what you need to look for.
“The king in question is Edward VIII on the obverse [head side] of the coin. Always make sure you look closely.”
