The rare Edward VIII 1937 Gold Proof Sovereign, the most expensive British coin sold in auction won by former Adelaide man Jordan Lott. He paid a record £516,000 for the gold sovereign featuring the head of Edward VIII, one of only six “proof” coins — and one of only two in private hands — struck in 1936 to commemorate the king’s intended coronation in 1937.
Mr Lott attended St Peter’s College in Adelaide until 1976 is the managing director of Regal Rare Coins, one of the biggest pawnbrokers in the UK and is featured in the British version of the TV series Pawn Stars.
Jordan Lott told MailOnline: "I was the first to place a bid and I was determined to be the last".
"In the world of coins, it's the coin's story that makes it important, and this coin has the most fantastic story".
"It's also beautiful and in mint condition - I would have paid another £50,000 to make sure I got it".
He said: 'It last sold in Tokyo in 1984 for £40,000 and I wish I'd bought it then. British coins are seriously undervalued.'
The Edward VIII gold sovereign is sometimes known as the “coin for the king that never was". In December 1936 Edward abdicated in order to marry US divorcee Wallis Simpson, before the sovereigns were made, making the coins redundant.
Source: Daily Mail
