Press Release October 2004

Unique gold penny fetches £230,000 at Spink today - Wednesday 6 October 2004

A NEW WORLD AUCTION RECORD FOR A BRITISH COIN

(Press Enquiries: Emily Johnston 020 7563 4009)

Coenwulf, King of Mercia (796-821)
Gold Penny, London
Pre-sale estimate: £120,000-150,000  SOLD FOR £230,000

Spink, London – The first Anglo-Saxon gold penny to come to light for almost a century has been sold at Spink today (06/10/04), for a record-breaking price of £230,000 (€336,000/$411,400). Found beside the River Ivel in Bedfordshire by an amateur metal detectorist in 2001, the gold penny had been expected to fetch £120,000-150,000. It was bought in the saleroom by Allan Davisson, an American collector of early British coins.

This magnificent coin, with its superb workmanship and remarkable state of preservation, is unique in several respects. It is the only known gold coin in the name of Coenwulf of Mercia and the only known purpose made Anglo-Saxon gold penny of clearly regal design. In addition, it is also the only known coin with a London mint signature and to refer to the ‘wic’ of London (Anglo-Saxon trading settlement, outside the old city walls to the west of the old Roman city).

The coin was offered for sale at Spink by agreement with the landowner and represents the most important discovery in British numismatics for many years. It weighs just 4.33g and is very similar in size to a modern one pence coin.

The obverse of the coin carries a finely detailed bust of Coenwulf surrounded by his title COENVVLF REX M (Coenwulf King of Mercia). The reverse shows a central floral design surrounded by the legend DE VICO LVNDONIAE [from the wic of London].

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Note to Editors:
PREVIOUS AUCTION RECORDS:
£ 170,500 – English gold coin, Crown of George III, 1817 – Spink, March 1999
£ 149,500 – English gold penny, Henry III – Spink, July 1996
£ 23,100 – Anglo-Saxon gold penny – Spink, December 1984

Images & Further Information: Spink Press Office on 020 7563 4009