Ancient Gold Coin Found in Field Sells for....

 

 

Ancient Gold Coin Found in Field Sells for Nearly $700,000

On June 6, a gold coin that dates back to ancient Rome which was discovered in a field earlier this year by a man with a metal detector sold at auction for £552,000 (about $695,000), auction house Dix Noonan Webb said.

That is five times the coin’s original £70,000–£100,000 estimate. The rare find attracted fierce bidding over the phone and online.

The 4.31-gram coin is described as little bigger than a penny. It is believed to date back to A.D. 293–296, to the reign of Roman-British emperor Allectus. Known as an aureus, just 24 such coins are known to exist.

The coin was found in March by a 30-year-old man with a metal detector who, along with his brother, had been searching for treasure for the past seven years in a plowed field in Kent, England.

The man, who wishes to remain anonymous, said in a statement, “I cannot believe it, we are ecstatic! We expected it to sell for a little over estimate, but not five times the estimate.” According to reports, he originally believed the coin was a fake.

The finder said he was sharing the money with the farmer who owns the field. The farmer is also “thrilled,” he said.

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