Gold coin from 17th century expected to fetch thousands at auction after it was initially thought a fake
Rare coin, stamped with image of King Charles I, was found in the back of a drawer
{{#rendered}} {{/rendered}}A 400-year-old gold coin dating to the time of King Charles I that was found in a pile of loose change is expected to fetch thousands of pounds when it is auctioned off next month.
The coin, a gold Unite piece, has a currency worth of 20 shillings, said the British news agency SWNS, but it is expected to sell for roughly £1,500-£2,500 (about $1,800 to $3,000 in U.S. currency).
The coin was discovered in a collection of old currency that was left over from travels abroad, noted the agency.
{{#rendered}} {{/rendered}}The coin's owner found the item in the back of a drawer at her late aunt's house in Kent, said SWNS.
Originally, the owner thought the coin was fake.
{{#rendered}} {{/rendered}}A gold coin from the 1600s was discovered in a drawer and initially thought to be fake. (SWNS)
"The vendor found the coin at the back of a dressing table drawer when she was sorting through her late aunt's effects," said Robin Fletcher, an antiques appraiser for the auction house, as SWNS reported.
"Both the vendor and her husband assumed it must be fake, so [they] took little notice of it and tossed it into a box of mixed 20th century coins," he said.
The gold coin is stamped with an image of King Charles I, who served as King of England, Scotland and Ireland from March 27, 1625, until he was executed in 1649, said SWNS.
{{#rendered}} {{/rendered}}GOLD ROMAN COIN FOUND NEAR POMPEII FETCHES EYE-OPENING AMOUNT AT AUCTION
When looking through the collection, Fletcher said he was "shocked" when he saw the gold coin.
"As I was told it was a fake, I didn’t do a close inspection until I got it back to the office," he said.
{{#rendered}} {{/rendered}}The gold Unite coin featuring King Charles I is estimated to be from 1625, said the auction house. (SWNS)
Upon looking at the coin, he realized he had literally and figuratively "struck gold."
"I phoned the seller to let her know. She was surprised and delighted to hear the valuation," he continued.
SUNKEN JEWELS, BURIED TREASURE UNCOVERED IN THE BAHAMAS FROM ICONIC 17TH CENTURY SPANISH SHIPWRECK
{{#rendered}} {{/rendered}}There were no other coins of real value in the collection, he added, calling it "amazing" to discover the 400-year-old coin.
"We will never know how this historical gem ended up languishing in a dressing table drawer for — probably — decades," he also said.
The 400-year-old coin was discovered in a collection of coins of various currencies, said SWNS. (SWNS)
The auction of the coin featuring Charles I is timely, as the coronation of King Charles III is on May 6, Fletcher noted.
{{#rendered}} {{/rendered}}He also encouraged other people to look around their homes for old coins that may be valuable.
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"Gold sometimes gets overlooked when it’s discovered by chance, as people automatically assume they can’t be lucky enough to have found the real thing," he told SWNS.
{{#rendered}} {{/rendered}}Most of the time these coins are not worth much, he noted.
He added, "But, along the way, perhaps an ancestor in the family picked up a rarity or two that could worth more than [its] weight in gold."
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{{#rendered}} {{/rendered}}"I’d advise anyone with old coins sitting around at home to go through them carefully and call in the experts to double-check their value."
The coin will be auctioned by Hansons Royal Tunbridge Wells on May 23.