Giant one kilo coin expected to sell for up to £125k at auction in Derbyshire

The one kilo coin - one of only 15 ever made by the Royal Mint - has an official denomination of £1,000. but experts at Hansons Auctioneers believe it will sell for between £100,000 and £125,000 this week.

The coin - which dwarfs a £1 piece - was made to commemorate Queen Elizabeth II passing Queen Victoria as the nation's longest-reigning monarch.

William Hayward, of the auction house, said: "The Yorkshire owner bought this coin from the Royal Mint on a bit of a whim back in 2015. It was made to celebrate the Longest Reigning Monarch in the history of United Kingdom - on September 9, 2015 Queen Elizabeth II had ruled for more than 63 years and 216 days surpassing Queen Victoria’s time on the throne.

"It cost him around £75,00 in 2015 but, thanks to its rarity and soaring gold prices, it will be offered at auction with an estimate of £100,000-£125,000. It’s so scarce, examples of this particular coin virtually never come to market. For a keen coin collector with deep pockets it’s an extremely rare opportunity.

"The coin is also important because it features a mature portrait of Queen Elizabeth by James Butler rather than the usual definitive effigy of the monarch we’re so familiar with seeing on coins. That makes it a modern rarity. The reverse of the coin is also interesting. It displays five portraits of Queen Elizabeth II which have been used on UK coins in a time-line. For any fan of royalty it’s an exceptional souvenir.

"From time to time The Royal Mint issues bullion coins in precious metals which have a much higher intrinsic value than their face value. They’re legal tender but not meant for circulation. They are bought by investors or collectors who appreciate these special editions as pieces of art."

The coin, lot 516, is in the November 15 and 16 Historica, Coins and Banknotes Auction at Hansons Auctioneers’ Derbyshire saleroom. The coin will be offered on day two.