A rare 13th century King Henry III gold penny, found on farmland by an amateur metal detectorist, has sold at auction in London, England, for over three-quarters of a million dollars.
Not only will it go down in history as Britain’s “most valuable single coin find,” but it is also the “most expensive English medieval coin ever sold at auction,” according to a press release from specialist London-based auctioneers Spink & Son.
The gold penny was woken from its over-760-year slumber near Hemyock in Devon, southwest England, on Sept. 26, 2021, by 52-year-old ecologist and amateur historian Michael Leigh-Mallory. The coin—which bears a portrait of King Henry III on the front, and a cross and roses on the back—was auctioned by Spink & Son on Jan. 22, with tens of interested bidders in attendance after following news coverage of the rare find.
Senior numismatist and Spink & Son auctioneer Gregory Edmund awarded the win to an in-person bidder for a world record 648,000 pounds (approx. US$875,000), including auction fees, according to the statement.
Leigh-Mallory said in the statement that the money from the sale of the coin will be put toward his children’s future, both of whom share his passion for history.
“In fact, I really owe it to them for having found the coin in the first place, as they were my inspiration to go out prospecting,” he said.
Leigh-Mallory said that an additional NFT lot of the “moment of discovery” put forward by Spink & Son will also raise funds for the Rodney Cook Memorial Fund benefitting at least three cancer charities, a cause “dear to the hearts of the metal detecting community.”
After making the rare discovery last year, Leigh-Mallory reported his find to the British Museum. Over the next four months, academics from King’s College London and the University of Manchester began looking into its fascinating history, according to the statement.
According to the statement by Spink & Son, King’s College professor of medieval history David Carpenter identified Leigh-Mallory’s coin’s likely former owner, a figure named John de Hyden who served on the retinue of the Earls of Devon during the Welsh Campaign, during which time over 37,000 Henry III gold pennies were distributed.
Only eight are known to exist in the world today, with six in public collections, according to the statement.
Leigh-Mallory’s discovery may join them; Edmund confirmed that the anonymous UK buyer wishes to place the coin on loan to a public institution or museum.
Edmund praised Leigh-Mallory’s “dedication and honesty” in placing the heritage of this find above all else.
“Without his diligence, the subsequent research would not have been possible, and nor would have the record-breaking price been achieved,” Edmund said.
Leigh-Mallory echoed Edmund’s appreciation of the numerous partnerships that ensued from the coin’s discovery.
After making history quite by accident, the amateur metal detectorist reflected, “Had it not been for a promise I made to my children to finally take them out searching and being rewarded with an Elizabethan coin a few weeks before, I do not believe this gold coin would ever have been found.
“The fine margin between discovery and loss makes this result all the more remarkable. I am sure there is further research to be made into my find, and I will be delighted to work with Spink, Professor Carpenter, and the relevant authorities to achieve this.”
