Coin fetches a mint

A rare Edward III double florin, also known as a double leopard,which was in circulation for just seven months has smashed the world record for a British coin at auction, fetching £460,000 today.

The medieval coin, which dates back to the mid-14th century, was bought by dealer Ian Goldbart, Managing Director of a global coin fund.

He said: "It is magnificent. I am holding it in my hand – but I won’t have it for much longer! The last two coins were found 150 years ago, so I doubt I will live long enough to buy the next one."

The double florin, which features a full-length portrait of Edward III was found last month by a metal-detecting enthusiast in the south of England. Authorised in 1343, it would have been one of the first gold coins used in this country. Its face value would have been around six shillings.

The highest price for a coin sale before this was an Anglo-Saxon penny which went under the hammer for £230,000 two years ago.

Jeremy Cheek, head of Spink Coin Auctions said: "We knew that there would be a huge interest, but this surpassed all of our expectations."