A metal detectorist who found England’s ‘first ever gold coin’ has sold it for a world record of £648,000. 

He wanted to keep his identity private and found the coin during his 10th year of metal detecting. He was on Hemyock Farmland, Devon. 

This penny is just under an in diameter.    

Only eight coins are known to exist, with the majority of them being in museums. This one however is believed to have been the first in over 260 years. 

The coin was extremely rare and the discoverer didn’t know it until he took a photo of it on Facebook. A specialist from Spink Auctioneers in London spotted it.

The treasure hunter, who wishes to remain anonymous, unearthed the coin on his first metal detecting outing in 10 years on farmland in Hemyock, Devon, last September

An anonymous treasure hunter found the coin while metal-detecting on Hemyock farmland, Devon.

The coin was found in a field in Hemyock, Devon, a medieval settlement famed for its castle (pictured)

The coins were found in Hemyock (Devon), a medieval settlement known for its castle.

Numismatists, coin specialists, have called the Henry III penny the “true” portrait of an English King on his throne. 

There are only eight known examples of these coins, almost all of which can be found in museums.

It achieved a hammer price of £540,000, with extra fees taking the final figure paid by a private British buyer in the room to £648,000.

The proceeds will be split 50/50 between the landowner and the finder. His fortune will be used to help his children.

The winner bidder plans to lend the coin to an institution or museum.

This is the world’s most expensive Henry III English coin and a world record.

The King Henry III penny, struck in about 1257 by William of Gloucester with gold imported from North Africa, measures just under an inch in diameter

William of Gloucester struck the King Henry III penny in approximately 1257 with North Africa gold. The coin measures less than an inch.

Gregory Edmund, specialist at Spink & Son, said: ‘Not only does this now stand as the most valuable single coin find in British history, but also the most valuable Medieval English coin ever sold at auction.

‘Unsurprisingly therefore it eclipsed our old house record to fall for an incredible £540,000 (£648,000 including costs) to a private room buyer.

It was acquired by an unknown private buyer in the United Kingdom, who plans to lend the coin to any public institution or museum.

“The results were astonishing to the vendors and landowners.”

The 21mm diameter coin displays Henry III’s portrait after he threw the Great Pavement from Westminster Abbey.

There are just eight of the coins in existence - with most of them in museums - and this one is thought to be the first to be found in 260 years

Eight of these coins have survived, most are in museums. The first one to be discovered in 260 Years is this one.

The reverse side has a long cross and roses, with pellets.

Some 52,000 of the coins were minted at twice the weight of a silver penny and valued at 20 pence, which equates to £60 in today’s money.

They were financially insolvent as the gold weight was greater than their coin’s value.

Who was Henry III? The spendthrift monarch of England

The gilt-bronze tomb effigy of King Henry III in Westminster Abbey

The gilt-bronze tomb effigy of King Henry III in Westminster Abbey

King Henry III (1207-1272), the son of King John, was king of England between 1216 and 1272. It is one of the longest reigns of English history.

Power was held by 13 nobles, his father being the child king. However, this quickly exploded into the Barons’ War that ended in 1217. 

Henry II was well known for his religiosity and extravagant spending. This included a reconstruction of Westminster Palace, and an extensive overhaul of Windsor Castle.

As a result his costly foreign policy and failure to win wars, the king faced more barons’ revolts. Simon de Montfort was the leader of the Second Barons’ War, and he seized power 1264. However, he was defeated later by Prince Edward, the son and heir to the king the next year. He was then executed.

Henry III, happily married Eleanor of Provence and had five children with her. His son Edward I – The Longshanks – succeeded Henry III in 1272.

After Henry III died, almost all were destroyed.

Other examples of the British Museum are located in London and the Fitzwilliam Museum, Cambridge. Private collections also have them.

According to the ecologist who found it, it was in an unsightly field. It could have been lost forever. The coin is being protected so future generations can enjoy it. It’s truly an honor to have been its discoverer.

“My wish came true. I happened to be the lucky one. To all the other dreamers and detectorists, I must apologise.

Henry III, king of England between 1216 and his death 1272.

To build treasures overseas, he made it a requirement that all payments in the 1240s/50s be in gold.

This was the first time since the dark ages that the economy didn’t depend on silver coins.

Henry died in 1257. His coins were then melted and replaced by correctly-weighed pennies.

Edmund stated that the coin was an economic experiment. Henry’s Gold Penny has been long viewed as the catastrophic failure of an economically weak or bankrupt monarch.

“This would, however, completely ignore the context of coinage in British History.

“Not only did the appearance of a brand-new gold coinage make a seismic impact on the local medieval landscape, it also shows the influence of international trade routes from gold- and spice-rich Middle East and North Africa on everyday life.

“Artistically, it represents a significant shift in the portrayals of a king controlled by Magna Carta to Edward the Confessor’s own personification of himself as England’s original patron Saint Edward.

It is not a coincidence that King Edward VII, who worshipped the Confessor in his efforts to restore the Abbey at Westminster, deserves the same respect.

Most notable, the coin shows the enthroned King sitting on top of a crosshatched pavement. This could possibly be an early reference to the famed Cosmati Great Pamel at Westminster Abbey which was created in 1259 and laid down in 1268.

“In essence, the coin portrays an enthroned King at the Seat of All Royal Coronations For the First Time Since William The Conqueror.” 

The reverse of the coin shows the portrait and crowning image of the monarch bearded on his throne in Westminster Abbey’s Great Pavement.

Hemyock village has taken great interest in this find.

Geoff Taylor of The Catherine Wheel Inn said that the coin is a valuable one and was a good landlord.

Thuwararagia Kumar, village post officer and manager of stores said: “It is really exciting that the gold coin found in Hemyock has placed Hemyock on top.” 

WHAT CLASSIFIES A FIND AS TREATMENT? 

According to the British Museum, these are treasures that have been made law in England and Wales, Northern Ireland and Northern Ireland.  

Every metallic object other than coins that is less than 10 percent by weight is considered precious metal. It must also be at least 300 years of age when it was found. 

Treasure is awarded to any object that is prehistoric.

A group consisting of at least two metallic objects, of the same prehistoric date and any other composition.

You can have more than one coin from the same source, provided that they are not less than 300 years old and contain at least 10 percent gold or silver 

At least 10 coins must contain at least 10% of silver or gold. 

Normally, only the following group of coins can be considered as being from the same source: 

  • Hidden Hoards 
  • There are smaller amounts of coins (e.g. the contents of purses) that could be dropped or lost. 
  • Deposits for ritual or votive purposes

Anything, regardless of its material, found together or in the same spot as Treasure.

Anything that was once treasure trove but is not included in the categories. 

Only items less than 300-years old that contain substantial amounts of silver or gold can be considered. They must also not have been intentionally hidden in the hope of recovering their owners.  

SOURCE: British Museum 

1996 TREASURE ACT 

Pictured: a treasure is found (stock image)

Picture: A treasure was found (stock photo)

The 1996 Treasure Act in the UK requires that treasure hunters report any discoveries within 14 days to their local coroner.

British Museum’s Portable Antiquities Scheme assists treasure-seekers with their legal obligations. They also write reports for coroners about each discovery and manage the Treasure disclamation process administration.

The Treasure Act facilitates the purchasing of finds by both national and local museums for the public benefit — with a reward from such typically given and split between the finder and the landowner.

According to guidance by an independent committee called the Treasure Valuation Committee, the value of rewards is equal or greater than the total market value. 

The act also helps to guide what is and isn’t considered as treasure — with the final determination for individual items made at an inquest.

Currently, treasures are the following:

  • Findings of at least two coins of 300 or older from the same place, except if the finds contain less than 10% of gold or silver. In which case, the treasure must have at least 10.
  • Two or more prehistoric base metal objects found in association.
  • Non-coin artifacts that are at least 300 years of age and contain at least 10% gold or silver.
  • Any treasure found in the exact same location as another treasure.
  • Hidden objects that have been deliberately hidden and whose owners or heirs remain unknown. They are under 300 years of age, but are primarily made from gold or silver.

However, following a public consultation last year, a new definition is to be developed in the future — one which will account for the cultural and historical significance of a find, rather than just its material qualities.