A rare Edward VIII sovereign coin from 1937 has been bought by a private collection for a massive 1 million pounds. This makes it the most expensive British coin ever!
The coin, which weights 7.98 grams, is made from 22-carat gold. It is also 22 millimetres in diameter.
The coin is a very rare one and is one of the only six prepared by the Royal Mint when Edward VIII became the king in 1936. It was due to be mass produced from the 1st of January 1937 for mass circulation. However, Edward VIII abdicated the throne in December 1936 to marry Wallis Simpson, an American divorcee. Royal protocol at that time did not allow a king to marry a divorcee.
In his abdication address, he famously said, “I have found it impossible to carry the heavy burden of responsibility and to discharge my duties as King as I would wish to do without the help and support of the woman I love.”
Consequently, the production of the coin was abandoned and the coins never were used by the general public.
Out of the six coins, four are held in museums or institutions whereas the other two are owned by private individuals.
Edward VIII had further broken conventions with this coin. It was customary for each monarch to face the opposite side to his or her predecessor for the new currency. But, Edward’s left side of the face was on the coin, just as his father King George V did, as he preferred his left profile.
“The Edward VIII Sovereign is one of the rarest and most collectible coins in the world, so it’s no surprise that it has set a new record for British coinage,” Rebecca Morgan, head of collector services at The Royal Mint, said.
Wow! Would you ever make a bid for something of such a huge value? Do let us know in the comments section below.