A rare coin featuring King Edward VIII could be worth up to £1 million according to recent insights shared by a coin expert. This information has sparked interest among UK households to examine their collections for potentially valuable coins. The announcement follows the sale of one such coin for £1 million in 2020, highlighting the significance of this ultra-rare collectible.
Understanding the Rarity of Edward VIII Coins
In a video posted on TikTok, an expert known as the Coin Collecting Wizard encouraged viewers to be vigilant for coins that bear the image of Edward VIII. The scarcity of these coins stems from Edward’s brief reign, which lasted only 326 days in 1936 before his abdication to marry Wallis Simpson.
During his short time as king, no coins were officially circulated. The expert explained, “Imagine a coin so rare it’s worth over £1 million. Only a few trial pieces were made, including gold sovereigns and penny coins, making them some of the rarest British coins ever.”
Market Value and Collectibility
According to Chards, a prominent numismatic dealer, the specific Edward VIII gold sovereign that sold for £1 million was previously purchased by an American collector in 2014 for £516,000. This particular coin later changed hands, being acquired by an anonymous British-based collector for nearly double the original purchase price, cementing its status as the most valuable UK coin on record.
The coin is part of a limited set of only six 22-carat gold sovereigns produced for trial in 1936. Currently, four of these sovereigns are held in museums, while the remaining two are privately owned.
Despite the excitement around these coins, the expert cautioned potential collectors. He noted that many coins claiming to be from the Edward VIII era are likely reproductions. “If you ever see one for sale, be cautious. The real ones are in museums or private collections,” he said, advising viewers to look closely at the obverse side of the coin, which features Edward VIII’s image.
As collectors and casual enthusiasts alike search their homes for hidden treasures, the allure of the Edward VIII coin serves as a reminder of the fascinating history and significant value that can be found in numismatics.
