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Liverpool Echo
Liverpool Echo
World
Kate Lally

Rare King Edward VIII coin valued at a huge £200,000

A rare coin marking King Edward VIII's brief reign has been valued at a staggering £200,000.

The coin is to be "split" into shares, meaning people can buy a stake in it for £50.

Collectables platform Showpiece.com has recently acquired the penny.

READ MORE: Rare coins worth up to £650 that could be in your house

Weighing 9.36g and measuring 3.08cm, ownership of the coin will be divided into 4,000 shares, each costing £50, from March 8.

Buyers will receive an ownership certificate and be limited to a 10% stake.

Those with a share in the coin will have a vote on potential future bids for it.

The coin is currently insured for £200,000, which will cover those who buy a stake, according to Showpiece.com.

Collectables platform Showpiece.com has acquired the penny, which has been valued at £200,000. (Showpiece.com/PA Wire)

It said the policy will be updated regularly to reflect changes in the coin's value.

Dan Carter, co-founder of Showpiece.com said the coin is surrounded by an "irresistible story which will captivate historians and the public alike".

He added: "We are expecting significant interest."

Fractional ownership gives people an opportunity to have a small stake in a rare or desirable item, such as an artefact or artwork, in a way that is relatively affordable.

In general, people need to be aware that the value of items can go down as well as up.

Experts have suggested the coin's allure stems from it not having entered public circulation.

The King Edward Penny was due to be issued widely from 1937.

But plans were abandoned following the abdication crisis in 1936, only months into Edward's reign.

The abdicated Edward VIII became the Duke of Windsor and finally married American divorcee Wallis Simpson while in exile in France in 1937.

In 1978, the penny fetched £25,000, before being sold again in 2019 for £133,000. The most recent appraisal was for £200,000.

Edward was said to have broken with the tradition of the monarch's heads facing in opposite directions, because he preferred his left profile.

Some Edward VIII memorabilia items have recently sold for significant sums.

In January 2020, another coin, an Edward VIII gold sovereign, was snapped up for £1 million.

That coin was bought by a private buyer in the UK, having been located by the Royal Mint from a collector. It was one of a small collection of trial sets.

In October 2021, a letter from Edward VIII hinting at his disenchantment with life as a royal as a young man was sold at auction for £7,117.

With the majority having been melted down by the Royal Mint after Edward VIII's abdication, the exact number of Edward VIII coins in existence is unknown - meaning there could be more like this one out there.

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