Chris Barker

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Edward Viii Sovereign has become The First British Coin to be bought for £1m, the BBC can reveal.

The new owner, a private collector who described the chance to buy it and bring it back from the US as a "once-in-a-lifetime-opportunity".

The Coin is a one-trial-set of six, which never went into series production due to Edwards abdication in December 1936.

It has only a nominal value of £1, But now the country is the most valuable Coin .

The 22-carat gold Sovereign is a type of Coin That was not struck for General traffic since 1932 - only 22mm in diameter and weighs 7. 98g makes it only slightly smaller and lighter than a pound Coin .

the reverse of The Coin was designed by Benedetto Pistrucci

It was ready for the strike, the resignation in January 1937, But the month-on-month The King , in order to marry American divorcee Wallis Simpson .

Only the studies remained, But they were hidden from the public for decades. Edward, later The Duke of Windsor, asked a number of coins, But it was rejected by his brother, George Vi .

Now, the four are set, with museums and other institutions, with two in private hands. The last owner, a Sovereign collector, who wished to remain anonymous, said: "When the opportunity came, I felt I could not turn it down. It was a once in a lifetime opportunity.

"I am aware of That it [£1m] is a lot of money for a Coin , But if I'm not sure it is now, I would not get the chance again. "

uniqueness of the vanity

The Coin was last sold for a then-record £516,000 revealed to a US collector in the year 2014, your status on both sides of The Atlantic .

What fascinated collectors and historians not only for its rarity, But also That Edward Viii was willing to break with Convention, the centuries fell to Charles II.

saw This every monarch face The Opposite direction to his predecessor. Edward preferred his left profile, in part due to his hair parting, and insisted on The Portrait opposite, effect, the wrong way.

"Edward Viii is quite a vain character. He insisted, looking at the same way as his father, because he believed That was His Best side," said Chris Barker , of the Royal Mint Museum.

George Vi , who succeeded him, also his left profile showed, sticking to the tradition, As If Edward had not broken.

sale

happened, such As the value of a Coin is so sought after and so rare? The Royal Mint , the Treasury company, which strikes coins for Nations around The World , Set Up a service two years ago with the aim to find and authenticate coins and precious metals.

Its state-of-the-art lab, at The Mint in South Wales , includes x-ray machines and other technologies That can easily fake a.

This collector services division acted as a mediator for the sale, for a cut of The Price . Its experts found That the Coin could be sold for, contacted to The Collector of rulers, and effectively acted as a broker for the offer.

Rebecca Morgan, head of service, said: "The Royal Mint has a continuous record of the coinage for 1,100 years, so we are ideally placed to be the source for historical, British coins for our customers.

"you can be sure That it is checked by the authentication, and you have paid a fair price for it. "

The Mint may have helped to secure a record sale for a UK Coin , followed by the Queen Anne Vigo five guinea Coin , But it's a long way short of the World Record .

The flowing hair dollar Coin , The First issued by the U.S. government, took More Than $10m (£7. 5m) at auction in 2013.

uk economy, personal finance, the royal mint, collectors, money

Source of news: bbc.com