Rare gold sovereign coin sells for over a million pounds in the UK

A rare 1938 Edward VIII sovereign coin me helines as it was purchased by a private collector for a sum of one million pounds. According to reports, coin belonged to a batch of six coins me by Royal Mint when Edward VIII assumed throne in year 1936.

rare coin is reportedly me from 22-carat gold, measuring 22 millimetres in diameter and weighing 7.98 grams. Thus, it is a little smaller and weighs slightly less than modern British one-pound coin. While it is t in circulation, it is still considered legal tender in UK.

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Production halted after King abdicated his throne

rare coin was to be me in bulk for general circulation in market from January 1, 1937. However, coin never entered circulation. Mass production of coin was halted when King Edward VIII abdicated throne in 1936 to marry a divorced American by name of Wallis Simpson.

coin was alrey rare, as Edward VIII h wanted a portrait of his left side to be punched on coin. He did this as he wanted to show off his parting, inste of his fringe, according to reports from British Royal Mint. This broke  established trition of each new ruler facing opposite side ir predecessor did in ir own coins.

Royal Mint's he of collector services, Rebecca Morgan said that Edward VIII Sovereign is one of rarest coins in world. She ded that 1 million pounds purchase was t surprising at all.

Where are or 5 rare coins?

Out of batch of six coins, four of m are placed in museums and concerned institutions. remaining two are owned by private collectors.

According to reports, people were unaware of coins' existence until 1970 as y were under lock and key. y were t considered to be a part of Royal Mint's coin collection as abdication of Edward VIII was considered to be a sensitive matter for Royal Family and Britain.

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(With inputs from ncies)