| Medieval Coin Sold |
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| Written by Kathryn Smith |
| Wednesday, 19 May 2010 12:10 |
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A coin that has been in use for only seven months in the medieval times will be sold in an auction in England. The coin is an Edward III double florin and it is expected to fetch up to 150.000 pounds.
A coin that has been in use for only seven months in the medieval times will be sold in an auction in England. The coin is an Edward III double florin and it is expected to fetch up to 150.000 pounds. The rare medieval gold coin dates back in the mid-14th century. On one side of the coin there is a full length portrait of Edward the III sitting on a throne and holding a sword and scepter. And on each of his sides there are two crowned leopard's heads decorated with fleur de lis. On the back of the coin there is a floriated cross with small leopards in the angle. The medieval coin was found in the South of England by a metal-detector enthusiast. The auction house representatives have not disclosed the place where the coin was discovered. This is an attempt to discourage unwanted visitors. Only two other coins of this kind have been found so far. Both of them were discovered in the River Tyne back in 1957. The two coins were place ever since in the British Museum. A representative of the auction house has stated that the new found coin looks nothing like the two old ones. He declared that the rare coin is exquisite and unique. The value of the medieval currency is estimated to be somewhere between 100.000 and 150.000 pounds. The coin or the double florin, had been authorized in December 1343 and had a value of six shillings. After only seven months, the coin was replaced. The reason why it was so unsuccessful is because of its high production cost and strange denomination. The Edward III coin was the first large gold coin minted in England. It came after many centuries of silver ones. Today, a good way of diversifying one's portfolio is to invest in gold coins. Specialists advise us to purchase the yellow metal in order to protect our savings. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Learn from professionals how to buy gold bullion in times of recession. |